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Fairview home conversion commands $375,000 per unit

Proximity to rapid transit, upside on rents underpin value
1055-west-10th-avenue-vancouver
A 12-unit home conversion at 1055 West 10th Avenue, Vancouver, sold August 21 for a cap rate of 2.54 per cent.

DEAL | A 12-unit home conversion at 1055 West 10th Avenue in the heart of the Fairview neighbourhood of Vancouver's West Side traded August 21 for $4.5 million, above the list price of $4.3 million. Proximity to the new Oak-VGH SkyTrain station and upside on rents underpinned its value. The average price per unit was $375,000, and the cap rate 2.54 per cent.

PRICE | $4,500,000

FROM | Dan Chatfield, Trevor Buchan and Sunil Suvarna, Colliers Canada