2620 Hemlock Street, South Granville, Sold

The Monterey Apartments at West 10th Avenue and Hemlock Street in the South Granville area has sold. The 17-unit heritage ‘C’ class building had been listed for sale in 2012 with an asking price of $4,800,000. It sold in January for $4,497,000, equating to a 3.6% cap rate and a price per unit of $265,000. The building was built in 1925. The buyer was Premier Pacific Properties.