Vancouver Richmond Apartment Building for sale
If you are looking for an income property in Vancouver, Richmond or Burnaby that has a steady cash-flow and predictable income, you can consider buying an apartment building. Depending on the size of an apartment building, the selling price may range from $2.0 to over $10.0 million. Most apartment properties in Vancouver are selling at cap rates between 4% to 7%. When buying an income property like an apartment building, the are other considerations that may appeal to an investor.
Richmond apartment building care home for sale
Richmond has very few apartment buildings for sale as there are very few such apartment buildings in Richmond. The demand for apartment buildings used for care homes is growing
steadily in BC, and in the metropolitan area of Greater Vancouver. Such apartment buildings zoned and used as care homes are seldom available for sale in Greater Vancouver.
Available for sale in Richmond is an established 38 rooms "Independent Living" care home facility. The cap rate is around 6% for this Richmond apartment building.
This Richmond care home is just 10 years old. The apartment building may be sold together with the business or the building can be sold separately. This Richmond apartment building is located on a large 32,000 sq ft lot. There is a possibility to expand this Richmond care home facility by building additional rooms to the north of the current building.
You can get more details from James Wong at Team 3000 Realty.
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