An 18,671-square-foot, two-lot land assembly at the corner of Rupert Street and Price Street in East Vancouver sold for $5 million, reports Avison Young. The sale price is $1.45 million below the assessed value and $2 million below the asking price.
Breakdown:
Type of property: Land assembly
Number of lots: Two
Location: 4506 Rupert Street; 3309 Price Street, Vancouver
Total land size: 18,671 square feet
Zoning: CD (Comprehensive development)
Potential: Rental units under City of Vancouver Rental 100 program
BC Assessment value: $6.45 million
List price: $7 million
Sale price: $5 million
Brokerage: Avison Young, Vancouver
Brokers: Michael Buchan and James Shandro
