Kits Apartment Building Sold
An 11-unit building at 2358 York Avenue has sold for $3,938,000, or $358,000 per unit / 2.6% cap rate. The realtor’s brochure describes the building as follows:
“…a well maintained three storey plus penthouse apartment building located in Vancouver’s extremely popular Kitsilano neighbourhood. Only one block south of Kits Beach, the property features 11 suites including 2 penthouse units with sweeping views of English Bay and the North Shore Mountains. Ideal for owner-occupier. Rents significantly below market.”
The building had been listed for sale for $4,000,000.
Own an apartment building in Metro Vancouver? I can provide a confidential opinion of current market value. — David Taylor, Colliers · 604-761-7044
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