Two apartment buildings in the city of Duncan on Vancouver Island have sold for $9.52 million, Colliers International’s Victoria and Nanaimo offices report.
Holly House Apartments and Westwind Manor Apartments consist of a total of 94 units, across a combined land size of 2.29 acres. The suites sold for approximately $101,330 each. The properties have a combined assessed value of $8.5 million and were listed for $11.2 million. The properties of a combined return rate of 5.2 per cent.
The properties are located at 2548 Lewis St. and 2551 Alexander St., Duncan.
Breakdown:
Price: $9,525,000
No. of Units: 94
Price/Unit: $101,329
Lot Size: 2.29 acres
Property Type: Multi-family
Zoning: R-8
2016 B.C. Assessment Value: $8,518,000
Date of Sale: 09/28/2017
City: Duncan
Province: B.C.
Name of Brokerage: Colliers International
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