- What A 12-storey apartment building in the city’s desirable West End is up for grabs
- Why Many suites in the 60-year-old property have been renovated
- What next At the expected valuation, a buyer’s yield would be 3.1%
A 41-unit apartment tower in the West End of Vancouver has hit the market for $21m.
The valuation for Park Vista, at 2060 Comox Street, works out to $512,000/unit. Net operating income is $655,000, pegging the capitalization rate at 3.1%. Goodman Commercial has the marketing assignment.
The 12-storey property was built in 1965, and many suites have been renovated.
Rent for the 16 bachelor units averages $1,620, and $1,930 for the 19 one-bedroom units. The two bachelor and den units average $1,310, with the four one-bedroom penthouses averaging $2,560.
Park Vista is in the city’s unique and bustling West End, near many shops, restaurants and the beaches of English Bay. The property has 20 secured parking stalls.
