An investment property in the form of a rental housing complex in South Richmond is on the market for $50.3 million.
Goodman Commercial recently listed Riverport Flats — a four- and six-storey rental complex at 14000-14088 Riverport Way that contains 135 market rental homes, located immediately east of Riverport Sports and Entertainment Complex. Both buildings have waterfront access, right on the edge of the Fraser River.
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The complex was built in two phases in 2012 and 2014. It has a unit mix of 24 studios, 90 one-bedroom units, 13 one-bedroom units with a den, and eight two-bedroom units.
Average rent ranges from $1,060 per month for a studio to $2,065 per month for a two-bedroom unit.
Residents are supported by amenities including bike and storage lockers, an air-conditioned meeting room, a fitness gym overlooking the river, and 188 vehicle parking stalls.
BC Assessment’s 2020 roll pegs the assessed value of the property at $46.844 million, with $12.616 million from the land and $34.228 million from the structures.