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

$6,000,000

MLS® # C8070444

Investment For Sale In Queens Park, New Westminster, British Columbia

$6,000,000

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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This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.

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