Haro Court, an 18-unit apartment building located in the West End of Vancouver has sold for $4,350,000, representing $242,000 per unit and a 3.0% cap rate. The building had been listed for sale for $4,400,000.

Park Strand Apartments, located at 1999 Nelson Street, a 50-unit walkup apartment building in the West End of Vancouver has sold for $14,925,000, or $298,500 per unit. The building was built in 1951 and was purchased by a private local investor. The net operating income at the time of sale was projected to be $496,000, representing a 3.3% cap rate. The property had been listed for sale; click here for a brochure.

The West End’s Central Presbyterian Church, located at 1155 Thurlow Street is in the initial stages of planning a redevelopment of their over 17,000 sq ft property. The Church’s initial concept plan shows a 207 ft mixed use 21-storey tower, including 14 floors of market residential units, 4 floors of non-market seniors housing and 3 floors to accommodate a new church and community space. The site is zoned RM-5B.

Source: Central Presbyterian Church