Colliers has recently brokered the sale of a 9.615 Acre Multi-Family Development Site situated within Abbotsford’s Urban Core. The site is located at 3036 Gladwin Road in Abbotsford, BC and was a court-ordered sale. The zoning of the property is RMH, which is a residential high-rise zoning, allowing an FSR of 2.50. The property was listed for $12,000,000 and sold for $9,200,000.
The second half of the highly-publicized Wosk Towers sale just closed this month, brokered by Simon Lim and Avtar Bains of Colliers, and the total selling price for the four 24-storey towers on 1600 Beach Avenue in Downtown Vancouver was $117,000,000. The total number of units was 598.
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The Greenwood Gardens Apartments at 14831 104th Avenue in Surrey, BC, Canada just sold for $13,817,000. The 183-unit, 3-storey apartment complex sits on a 5.61 acre lot and was constructed in 1972. The assessed value of the building is $14,528,000. The vendor originally purchased the apartment complex in 2004 for $10,850,000.
The New Marquis Apartments on 1355 Pendrell Street in Downtown Vancouver were recently sold for $19,057,480. The property is located on Pendrell between Broughton and Jervis. The 15-storey apartment building features 103 units and is zoned RM-5 Multi-Family. The property was assessed at $17,131,000 for tax purposes.
Bill Goold has sold an apartment building at 4141 Oak Street in Vancouver near King Edward. The property sold for $1,995,000 with a listing price of $2,100,000. The building consists of 12 suites, and is 64 years old. Bill Goold advertises a 5.01% potential cap rate and a 4.26% existing cap rate. The assessed value for the building for 2009 is $1,741,000.
The 16-unit Apartment building at 425 6th Street in West Vancouver has been sold. The selling price for the property was $5,500,000, which represents a price of $343,750 per unit. The property is improved with a four-storey Apartment building built in 2007 and zoned RM-9 Multiple Dwelling. The property is just across the street from the Waters Edge Luxury Condominiums. The assessed value of the property is $4,423,000, and the lot area is 7516 square feet.
The Golden Crown Rooming House located at 116 West Hastings Street in downtown Vancouver was recently sold. The selling price for the property was $3,200,000. The property is currently assessed at $1,790,000, is zoning DD Downtown District, and improved with a four-storey brick rooming house built in 1907. The house was the subject of a recent renoviction attempt.
One half of the sale that everyone was talking about, the Langara Gardens on 501 West 57th Avenue in Vancouver, has closed at the end of October. The final selling price on the Langara Gardens towers and townhouse residences was $157,000,000. The property is assessed at $98,973,000, and has a site area of 907,137 square feet consisting of 605 residential units and 16 ground floor retail units.
A new development rezoning application was submitted to the City of North Vancouver to redevelop the site of the apartment building that was damaged by fire this year at 1033 St. George’s Avenue in North Vancouver. The proposed development includes 54 low-rise apartment units constructed on the existing concrete underground parking foundation.