DEAL | The Crest, a 25-unit multi-family rental property at 33941 Essendene Ave., Abbotsford, sold Nov. 18 for $4.5 million. The assessed value was significantly higher, however, at more than $5.5 million, while the asking price was $7 million. Built in 1965, the building sold for $179,000 per door. Given the site’s potential to accommodate a six-storey building, the closing price of $42 per buildable square foot provides an equally compelling measure of value. Fraser Elliott Commercial represented the vendor while Avison Young represented the purchaser in the transaction.
PRICE | $4,475,000
FROM | Chris Wieser, Avison Young
