Mission apartment building sold for $1M above assessed value

The 23-unit property sold for $3.1 million and was assessed at just under $2 million

By
for Western Investor
November 2, 2018





mission
A 23-unit apartment building in Mission has sold for $3.1 million, Marcus & Millichap Real Estate Investment Services reports. 
 
The 23-unit multi-family building is located on a 15,247-square-foot lot, with future redevelopment opportunity under Commercial Core Downtown zoning. The property sold for more than a million above its assessed value, at approximately $134,247 per unit.
 
The property is located at 33250 Second Ave., Mission. 
 

Breakdown: 

 
Price: $3,100,000
No. of Units: 23
Price/Unit: $134,782
Lot Size: 15,247 SF
Property Type: Multi-family 
Zoning: CCD1
2017 B.C. Assessment Value: $1,971,000
Date of Sale: 09/28/2018
City: Mission
Province: B.C.
Name of Brokerage: Marcus & Millichap Real Estate Investment Services Canada Inc.
 

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Mike is based in Marcus & Millichap’s Vancouver office, specializing in multi-family sales across the North Shore, Squamish, Burnaby and New Westminster.

Marcus & Millichap Real Estate
1020-400 Burrard Street
Vancouver, B.C. V6C 3A6
Office: 604-675-5200

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