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Terry Harding and Jackson Tang of NAI Commercial have recently closed the sale of Braemar Court at 600 Smith Avenue in Coquitlam. The property is improved with a 106 suite multifamily woodframe development. The lot measures a total of 2.81 Acres, and the building area is 106,350 square feet.
The original asking price was $17,250,000, with a final sale price of $16,150,000, which represents a price per unit of $152,358. This apartment building is part of a $35M, 3-Property Apartment building portfolio for sale listed by NAI Commercial in Burnaby and Coquitlam.
The Goodmans and Owen Yates of Colliers International have recently brokered the sale of 1131, 1143 and 1151 Haro Street in the West End of Downtown Vancouver. The three properties are improved with a 12 unit rooming house, a 3 suite rental house (which is currently vacant due to a recent fire) and a 23 suite apartment building. The property is an ideal redevelopment site with good holding income that allows for 2.75 FSR and totals 17,292sf in site area. The Gross income for 2009 was $348,000, and the asking price was $8,295,000. The final selling price was $8,000,000.
1131, 1143, 1151 Haro Street Summary PDF
Simon Lim and Steve Fame of Colliers have recently sold the 74-Unit Rooming house located at 1123 Granville Street in downtown Vancouver. The property is imrpoved with a 74 rooms, 2 retail units and a full-sized basement. The zoning of the property is DD (Downtown District) with an FSR of 3.0, which may be increased to 5.0 for social housing. The original asking price of the property was $5,500,000 and the selling price was $4,500,000.
1123 Granville Street, Vancouver
The Goodman Report’s latest update as of July 14th, 2010 has all of the Apartment sales Year-to-Date. Check it out for some fantastic information:
The Washington Court apartment building on the corner of Thurlow and Nelson Street in Downtown Vancouver was recently sold by RE/MAX Jake Moldowan. The property is measures 8,646 sf and is improved with a 44-unit, 5-Storey plus Basement apartment building which is approximately 91 years old. The building is well-maintained, and sold for $12,100,000, representing a price per unit of $275,000 and has an assessed value of $8,864,667.
Another South Surrey sale, this time brokered by the team at MacDonald Commercial Realty including the Goodmans, is the retail commercial property located at 1938 152nd Street. The property boasts multi-family development potential (for an additional 100,000sf based on 2.5 FSR) with holding income and is located very close to the Semiahmoo Shopping Centre that recently sold. The selling price was $7,250,000 representing approximately 5.2% cap rate based on the in-place NOI of $374,100. The original asking price was $7,900,000. Total land area is 59,206 sf, with the total building area on the property measuring approximately 48,571 sf.
PDF Brochure for 1938 152nd Street
The Guys at NAI Commercial recently sold the three-storey woodframe apartment building located at 255 East 2nd Street in North Vancouver. The property features 24 suites and sold for $2,9800,000 representing a price per door of $120,833.
The 2009 Year in Review Goodman Report has come out, in case any of you guys aren’t subscribers there. Its a fantastic review on the Year’s Multi-Family commercial real estate trends and comparisons.
Check out the 2009 Year-in-Review Goodman report here:
Bill Goold’s team has sold another apartment building in Vancouver. The subject property is a 48-unit high-rise apartment building on Jervis and Haro in the Downtown West End. The property had an asking price of $8,100,000 and sold for $7,530,800, which represents a cap rate of 4.3%.