(originally posted at Investment Property in Cambridge Ontario sells for $45+ million on June 28th)
Large Apartment Building Sold in Cambridge Ontario
Last week we looked at Two Waterloo Region Apartment Buildings that Sold For $45+ million.
Here is a video with some more information on the sale:
To recap, the investment property in Cambride, Ontario was purchased at a 5.7% cap rate.
Between both apartment buildings there are 225 units, and the average rent is above $1500 per month.
High valuation, but the properties generate premium income, are prestigious assets, and are very recent (6 years and 1 year) construction.