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White Rock multi-family rental sells for $300,000 per door

On a corner location with ocean views, the 21-unit well-maintained building with “significant rental upside” sold for $6.3 million.
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Avison Young, Vancouver, for Western Investor

Property type: Multi-family rental

Location: 15281 Royal Avenue, White Rock, B.C.

Number of units: 21

Land size: 13,800 square feet

Land size in acres: 0.32 acres

Zoning: RM-2

Floor space ratio: 1:1 FSR

BC Assessment value: $5.0 million

List price: $6.6 million

Sale price: $6.3 million

Date of sale: June 30, 2021

Brokerage: Avison Young, Vancouver

Brokers: Carey Buntain, Rob Greer, Chris Wieser, Stuart Wright