A South Granville apartment complex has sold for $7.5 million, according to the Goodman Report team at HQ Commercial.
The 13-unit apartment building was built in 1927, with two-storeys and a rooftop deck. The building has a net rentable area of 8,613 SF and a 2 per cent capitalization rate. The turnkey property features extensively updated suites, with a mix of bachelor, one and two-bedroom units. The site has favourable RM-3 zoning, allowing for potential assemble with the corner site to the east for a future redevelopment.
The property is located at 1546 W 12th Ave., Vancouver.
Breakdown:
Price: $7,500,000
No. of Units: 13
Price/Unit: $576,923
Lot Size: 7,813 SF
Property Type: Multi-family
Zoning: RM-3
2016 B.C. Assessment Value: $4,311,000
City: Vancouver
Province: B.C.
Name of Brokerage: HQ Commercial
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