An 11-unit apartment building, known as Bel Aire Apartments at 6356 East Boulevard, has sold for $4,710,000, or $428,000 per unit, or a 2.10% cap rate. The buyer is East Boulevard Property (Westland) Ltd.  The building had been listed for sale for $5,000,000.

A 3.4 acre site known as Keybridge Centre has sold at 6851-6871 Elmbridge Way in Richmond, near the Olympic Oval. The sale price was $31,300,000. The purchaser was Bene Development Ltd.

The site sits next to Onni’s Ora project, and is also identified under the City of Richmond’s City Centre Area Plan as General Urban T5.

I am pleased to announce the sale of a six-lot assembly on Yukon Street and West 63rd Avenue in Vancouver’s emerging Marpole neighbourhood to Marcon Homes. This 34,600 SF site represents one of the best and largest opportunities to develop within existing zoning in an established and mature residential neighbourhood near transit.