Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 634 Twelfth Street, New Westminster

marreseThe Goodman’s strike again with another low-rise apartment sale, this one located at 634 12th Street in New Westminster. The building is called The Marrese, and is 3-storey, 14-unit woodframe apartment building. The building was constructed in 1957, and has a projected Net Operating Income of $95,038 for 2009, and an asking price of $1,849,000. The asking price represents a cap rate of 5.1%. The assessed value of the property for 2009 is $1,360,000, and the property sold for $1,740,000.

Original Brochure for 634 12th Street

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