A 10-unit boutique apartment building near Commercial Drive has sold for $5.9 million, JLL tells Western Investor.
The fully renovated, three-storey property was built in 1913. The property is fully occupied by professional tenants on two-year leases. Rents average $2,583 per month, with a net operating income of $281,141 per year.
The property is located at 1727 William St., Vancouver.
Breakdown:
Price: $5,900,000
No. of Units: 10
Price/Unit: $590,000
Lot Size: 4,125 SF
Property Type: Multi-family
Zoning: RT-5
2018 B.C. Assessment Value: $6,246,000
Date of Sale: 01/28/2019
City: Vancouver
Province: B.C.
Name of Brokerage: JLL Canada
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