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Today's Rate:
1.7% - 1.8%
*Approximate range for CMHC
fixed 5 year term

 

2016 Allowable Rent Increase:
2.9%

 

MULTI-FAMILY
MARKET REPORT

APARTMENT BLOCK PRESS

 

For more information, visit:
www.apartmentblocks.ca

 

 

 

NAI Apartments News

We are pleased to provide our September E-newsletter. The residential tenancy branch has announced the 2016 allowable rent increase is 2.9%.

 
 

Multi-Family News
In the multifamily market we have seen consistently strong sales with 82 apartment buildings turning over so far this year. Our team has transacted 12 properties so far in 2015. Prices continue to climb, especially in Kitsilano, South Granville and New Westminster. Rents in New Westminster have reached levels comparable to Marpole yet maintain a substantially lower price per door allowing for much stronger financing.

Land Development News
In development news the Metrotown official community plan is gaining public momentum. However sources indicate that nothing is expected to be finalized before next spring. As outlined in my article published in Landlordbc, Metrotown development plan: The Calm before the Storm, putting together an assembly with a strong marketing campaign can take time. If your property has the potential to be a development opportunity and you are contemplating this option, contact us to discuss how we can position you to be ahead of the market. West end Vancouver is also seeing high activity since the release of the Official Community Plan. The main areas of interest are along Davie Street and the blocks between Burrard and Thurlow Street, which is referred to as the Burrard Corridor. Determining floor area ratio in the Burrard Corridor can be more complicated than other areas as the city requires Social Housing and site specific view corridors from any future developments. Consequently our open relationship with the City planners and understanding their requirements provides an edge organizing and marketing development opportunities in this area.

Our 2015 year continues to be active. We have recently gone firm on: 231 Eighth Street in New Westminster, 6576 Sussex Ave and 4525 Beresford St in Burnaby and 6909 Royal Oak Avenue in Burnaby. This month’s featured listing is a 61 unit apartment building in New Westminster. The building resides on a large 39,222 square foot lot in a desirable location.

 

Featured Listing

Apt Bldg Photo
 

61 Unit Apartment Building
815 - 5th Ave
New Westminster, BC

  • Easy access to public transportation on 8th Street.
  • Shopping is plentiful within a two minute walk to the Royal Centre Mall.
  • Moody Park is just a few blocks away.
  • Price: $8,600,000

View Brochure

Metro Vancouver Recent Sales

Apt Bldg Photo Apt Bldg Photo
 

2154 York Ave, Vancouver, B.C

  • SOLD PRICE:$4,550,000
    11 Unit Apartment Building
    July 7, 2015
 

5262 Ladner Trunk Road, B.C

  • SOLD PRICE:$4,650,000
    28 Unit Apartment Building
    July 21, 2015
 
Apt Bldg Photo Apt Bldg Photo
 

The New York Apartments
2341 York Ave, Vancouver, B.C

  • SOLD PRICE: $3,800,000
    27 Unit Apartment Building
    July 8, 2015
 
 

Rosemary Manor
1860 Nelson St, Vancouver, B.C

  • SOLD PRICE:$9,085,000
    24 Unit Apartment Building
    July 15, 2015
 
Apt Bldg Photo
 

Westside Apartments
140 W 17th St, North Vancouver, B.C

  • SOLD PRICE: $11,300,000
    45 Unit Apartment Building
    July 13, 2015
 
Disclaimer: These are transations that we gathered from public sources but make no representation as to the accuracy of the information. The reader should verify content directly by themselves before replying on such.
 
Terry Harding , Senior Vice President
Tel: 604 691 6615
email: harding@naicommercial.ca

Know The Market
Visit us www.apartmentblocks.ca

NAI Commercial
Suite 100, 535 Thurlow St
Vancouver, B.C.V6E 3L2

NAI Commercial understands the realities of today’s real estate environment, and meets these demands with speed and agility. Our streamlined organizational structure is designed with multi-market clients in mind. Whether you are looking locally or thinking globally our brokers have the knowledge, experience and network to deliver effective real estate solutions.
Jackson Tang, Vice President
Tel: 604 691 6680 (國語, 廣東話, 福建話查詢)
email: jackson@naicommercial.ca
Brandon Harding
Tel: 604 691 6630
email: brandon@naicommercial.ca

NAI Commercial

This email has been prepared by NAI Commercial for advertising and information purposes only. NAI Commercial makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. NAI Commercial excludes any inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.

 

 


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