A private investor has purchased the low-rise apartment complex on the northwest corner of West 10th Avenue and Oak Street in a $11M deal (a 4% cap rate). The complex is located across the street from Vancouver General Hospital. RealNet’s Ryan Wyse tells us they haven’t seen many larger apartment transactions so far this year, so this one is a rarity. The price per unit in this deal is just over $268k (there are 41 units in the property, the majority of which are one bedroom in the 525 SF to 660 SF category).
This Deal's A Rarity
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Oak Street
, Ryan Wyse
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