411 THIRD AVENUE New Westminster, BC
$ 5,288,800
Property Attributes
  • MLS#C8030227
  • TypeMulti-Family
  • CityNew Westminster
  • Postal CodeV3L2S3
  • Style
  • Price$ 5,288,800
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6373
Listing Provided Courtesy Of:
The Firm Real Estate Services Ltd.
Property Description

UNBEATABLE INVESTMENT OPPORTUNITY WITH REDEVELOPMENT POTENTIAL! 11-unit multifamily building in prime Queens Park location in New Westminster. Large land parcel (17,667 sq.ft), 6,373+ sq.ft of living area, non-heritage status, 10 self contained suites (Four studios and Six 1 bdrms), plus one caretaker suite (studio), as well as a separate five stall garage building. Separately metered for all utilities, hydro, gas, cable. Low maintenance costs of approx 10% of gross income. Current residential zoning = low property tax. Queens Park OCP 2041 proposes medium density transition zone. Unique site with 3 laneways converging at rear of property allowing for strategic redevelopment access points. Updated throughout incl new roof in 2006, newer high efficiency boiler system, all electrical and copper piping done in 1990's, clean environmental phase 1 recently completed. Approx. $200,000 of NET INCOME. Priced at 3.8% cap rate. (id:27)

Price History
1/27/2020 Listed $5,288,800

General Features

Garage no
Listing Type Investment
Parking no
Property Type Multi-family
Terms SALE
Wheel Chair Access no
Zoning RS-1

Interior Features

Fireplace no

Exterior Features

Pool Y/N no


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Postal Code Average in V3L2S3

AVG $5.29M
AVG 62
AVG 78
Data Provided by Walkscore ® not using MLS data

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