A 52-unit rental apartment complex in New West has sold for $11.2 million, CBRE Vancouver reports.
The building was constructed in 1968, situated on 29,083 square feet of land. The property sold for more than $3 million more than its assessed value of nearly $9 million. Each unit sold for an average of $215,284 per suite.
The property is located at 222 Ash St., New Westminster.
Breakdown:
Price: $11,200,000
No. of Units: 52
Price/Unit: $215,384
Lot Size: 29,083 SF
Property Type: Multi-family
2016 B.C. Assessment Value: $8,998,000
City: New Westminster
Province: B.C.
Name of Brokerage: CBRE Vancouver
