A large-scale, 16-building residential property sold for $72.1 million, The Goodman Report team records in its 2017 apartment building sales report.
The 286,450-square-foot site houses a mix of townhomes and apartment buildings, totaling 140 units. The site has an operating income of $1,417,109 and potential for further rental and condominium development. Southview Gardens is in the Champlain Heights residential area of East Vancouver, near schools and amenities.
The property is located at 3240 E 58th Ave., Vancouver.
Breakdown:
Price: $72,185,000
No. of Units: 140
Price/Unit: $515,607
Lot Size: 6.58 acres
Property Type: Multi-family
Zoning: CD-1
2016 B.C. Assessment Value: $46,533,000
City: Vancouver
Province: B.C.
Name of Brokerage: HQ Commercial
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