Allied Properties REIT has sold 1220 Homer Street to a user group for $13,250,000, . The 4-storey, 19,384 SF heritage office building was originally built in 1947 but had been restored. The building was primarily vacant at the time of sale.
The sale price equates to $684/SF.
The building had originally been acquired in 2018 for $17,500,000, and a 3.40% cap rate.
1281 Broughton Street, a 31-unit building in the West End, has been sold by Reliance Properties to CAP REIT in a deal valued at $13,953,000, or $450,000 per unit.
The building is located on the Southwest corner of Broughton & Burnaby Street in the West End. The 8-storey concrete building was built in 1959 all all corner units with hardwood flooring. The building has laundry, storage, and some parking.
Details:
Lot size: 8,650 SF
| Unit Type | No. | Average Unit Size (Sq. Ft.) |
| One Bedroom | 27 | 727 |
| One Bedroom Penthouse | 1 | 915 |
| Two Bedroom | 2 | 910 |
| Two Bedroom Penthouse | 1 | 955 |
| Total | 31 |
The asking price for the property had been $15,900,000.
The property was listed and sold by CBRE.
Building rental listing “Twelve81”: https://www.capreit.ca/apartments-for-rent/vancouver-bc/the-twelve81/
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