A 16-unit residential rental complex in downtown Kelowna has sold for $2.97 million, which was more than its assessed value but slightly below asking price, according to MCL Real Estate Group. The sale price is equivalent to almost $186,000 per suite.
Breakdown:
Property type: Multi-family rental
Location: 1181-1191 Bernard Avenue, Kelowna
Number of units: 16
Size of building: 37,604 square feet
Size of land: 87 acres
Zoning: RM3
B.C. Assessment value: $2.68 million
List price: $3.1 million
Sale price: $2.97 million
Date of sale: March 16, 2020
Listing brokerage: Engel & Volkers
Listing brokers: Michal Gook, Blaine Vernon-Jarvis
Buyer's brokerage: MCL Real Estate Group
Buyer's agent: Ken McLaughlin