8-Unit Multifamily Property in East Vancouver | $2.36M Transaction
Successful Sale of an 8-Unit Multifamily Property in East Vancouver
Case Study: Estate Sale Success Through Strategic Marketing
On June 1, 2017, Sam and his team successfully facilitated the sale of 2274 Oxford Street, an 8-unit multifamily building in East Vancouver. The property was part of an estate sale, and the executors required a smooth closing process with a strong sale price. Through targeted marketing and expert negotiation, the property was sold for $2,360,000, meeting ownership’s price and timeline expectations.
Transaction Details
- Property Address: 2274 Oxford Street, Vancouver, BC
- Sale Price: $2,360,000
- Sale Date: June 1, 2017
- Property Type: Multifamily rental building
- Number of Units: 8
- Cap Rate: 2.1%
Property Overview
This well-maintained 8-unit rental building in East Vancouver presented a great opportunity for investors. The property featured spacious units, on-site parking, and a desirable location, ensuring strong rental demand. It was sold as-is, with the buyer inheriting stable rental income and future value appreciation potential.
Neighborhood Benefits
Situated in Vancouver’s vibrant East Side, 2274 Oxford Street benefits from excellent transit access, proximity to parks, schools, and shopping districts. The area continues to attract investors due to its strong rental market and increasing property values. The property’s quiet residential setting combined with urban convenience made it a highly desirable acquisition.
Client Relationship and Market Strategy
The property was part of an estate sale, requiring a streamlined sales process with minimal disruption to tenants. Understanding the urgency, Sam and his team swiftly prepared a comprehensive due diligence and marketing package within a week and a half. They launched a targeted direct marketing campaign, utilized paid advertising, and leveraged commercial real estate platforms to maximize exposure. To accommodate interested buyers while maintaining a smooth experience for tenants, they conducted 26 private tours, ensuring the process remained organized and efficient. As a result of their strategic efforts, the property generated significant interest, leading to three strong offers. Ultimately, ownership accepted a well-negotiated offer that met their price expectations and ensured a hassle-free closing.
Market Insights
Vancouver’s multifamily market continues to experience low vacancy rates and rising rental demand, making well-located rental buildings attractive to investors. East Vancouver remains a prime location due to its affordability, strong rental growth, and long-term redevelopment potential. This transaction demonstrates the ongoing demand for well-maintained multifamily properties in core Vancouver neighborhoods.
Conclusion
This transaction highlights Sam and his team’s ability to navigate estate sales efficiently while securing top market value. Their strategic marketing, expert negotiation, and deep understanding of the multifamily market ensured a seamless sale that met the expectations of the estate executors.
Testimonial
"Sam marketed and sold our 8-unit multifamily building in East Vancouver. He is a dedicated professional who is knowledgeable and pays attention to all transaction details. I would have no reservation in recommending him to my friends and other multifamily owners in Greater Vancouver."
Stay Informed on Greater Vancouver’s Commercial Real Estate
Get exclusive market insights, top investment opportunities, and success stories from across Greater Vancouver.
