A 10-suite rental apartment in Vancouver’s Marpole neighbourhood has sold for $3.8 million, according to The Goodman Report team at HQ Commercial.
Hudson Apartments was built in 1996, with a net rentable area of 5,013 square feet. The property consists of one-bedroom suites with an average square footage of 501 square feet, with an average rent of $1,091. The property has a 2.7 per cent capitalization rate. The site sold for slightly over its assessed value, at $380,000 per suite.
The property is located at 8638 Hudson Ave., Vancouver.
Breakdown:
Price: $3,800,000
No. of Units: 10
Price/Unit: $380,000
Lot Size: 5,400 SF
Property Type: Multi-family
Zoning: RM-3A
2016 B.C. Assessment Value: $3,523,000
City: Vancouver
Province: B.C.
Name of Brokerage: HQ Commercial
