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West Kootenay 51-unit rental complex trades at $5 million

The two upgraded multi-family rental buildings share a 1.52-acre site in Fruitvale, B.C.
Avison Young, Vancouver, for Western Investor

Property type: Multi-family rental

Location: 118 and 124 Redwood Drive, Fruitvale, B.C.

Number of buildings: 2

Number of units: 51

Land size: 66,387 square feet

Land size, in acres: 1.52 acres

Capitalization rate: 6.43 per cent

Price: $5.05 million

Brokerage: Avison Young, Vancouver

Brokers: Carey Buntain, Bijan Lalji and Chris Wieser