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British Columbia
New Westminster
317 THIRD AVENUE

$6,000,000

New Westminster BC, V3L 1M5

MLS® # C8070444

Property Information:

Carlton Court is a meticulously maintained 26-suite, three-storey rental apartment building located in the highly desirable Queen's Park neighborhood of New Westminster. Built in 1925, this iconic heritage property has served as a community landmark for a century. It generates over $35k/month in gross income (more than $400k/year) with a 4.63% cap rate and significant upside potential. The unit mix includes 21 one-bedrooms, 1 two-bedroom, and 4 bachelors, with a historically low vacancy rate below 0.5% and a strong tenant base. The building features original hardwood floors, heritage decor, an open-air courtyard, tenant storage, on-site laundry, 13 enclosed garages, and ample street parking. Professionally managed and in excellent condition, this is a rare opportunity to acquire a legacy asset in one of Metro Vancouver's most sought-after rental markets. **New furnace & high-speed fibre optic internet recently installed. (id:27)

Building Features:

Style: Multiplex
Amenities: Street Lighting
Floor Space: 21619 sqft

Property Features:

Property Type: Multi-family
Built in: 1925
Features: Lane
Floor Space (approx): 21619 Square Feet
Lot Size: 23925.00 Square Feet
Utility Type: Cable - Available, Natural Gas - Available, Hydro - Available, Telephone - Available
Zoning: RS-4
Sewer: Storm sewer

Courtesy of: Team 3000 Realty Ltd.

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⚠ Potential Investment Performance

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Market Price Trends

Location of 317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

Lifestyle
Neighbourhood

Demographic Information of 317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

Life Stage

Older Families

Employment Type

Service Sector/White Collar

Average Household Income

$154,903.13

Average Number of Children

1.56

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

10.55 %

High school certificate or equivalent

25.34 %

Apprenticeship trade certificate/diploma

5.33 %

College/non-university certificate

17.21 %

University certificate (below bachelor)

3.0 %

University Degree

38.57 %

Commuter

Travel To Work

By Car

64.57 %

By Public Transit

24.15 %

By Walking

8.0 %

By Bicycle

0.26 %

By Other Methods

3.02 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

64.46 %

Houses

35.54 %

Own Vs. Rent