A 10-unit apartment building in the Kerrisdale neighbourhood has sold for $4.6 million, brokered by Jones Lang LaSalle.
Glenayre apartments is a three-storey, wood frame building situated at on a 5,925-square-foot lot, built in 1958. The property sold for $460,000 per suite. The property includes one and two-bedroom suites and has a net operating income of $91,611. The apartments are currently rented out for under-market value and provide investors with the opportunity to maximize on revenue by updating the suites.
The property is located at 2181 West 40th Ave., Vancouver.
Breakdown:
Price: $4,600,000
No. of Units: 10
Price/Unit: $460,000
Lot Size: 5,925 SF
Property Type: Multi-family
Zoning: RM3
2017 B.C. Assessment Value: $4,726,000
City: Vancouver
Province: B.C.
Name of Brokerage: Jones Lang LaSalle
Do you have a Done Deal you'd like to promote? Submit here for a free posting!
