White Rock multi-family site sold for $7.12M

The 25-unit apartment building sold for $285,000 per suite

A 25-unit apartment building in White Rock has sold for $7.12 million, Macdonald Commercial Real Estate Services reports. 

The multi-family suite sold in an off-market transaction for $285,000 per suite, on October 30, 2018. The property has an assessed value of $5,485,000. The site is 22,000 square feet, with future redevelopment potential. 

The property is located at 1485 Fir St., White Rock. 

Breakdown: 

Price: $7,127,000

No. of Units: 25

Price/Unit: $285,000

Lot Size: 22,000 SF

Property Type: Multi-family 

Zoning: RM-2

2017 B.C. Assessment Value: $5,485,000

Date of Sale: 10/30/2018

City: White Rock    

Province: B.C. 

Stuart Wright Nick Goulet Macdonald Commercial Real Estate for Western Investor

November 14, 2018