49.213024 -122.9131

411 THIRD AVENUE New Westminster, BC V3L 2S3

Rob Poole
Rob Poole
20842 Lougheed Hwy Maple Ridge BC V2X 2R3
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261104369 49.213024 -122.9131 734 /listing/261104369-150112854/411-third-avenue-new-westminster-bc-v3l-2s3 False 0 5288800.0 101 C8030227 False
  • $5,288,800
  • 411 THIRD AVENUE New Westminster, BC V3L 2S3

Property & Neighborhood Info

Courtesy Of RE/MAX Progroup Realty

Commercial in New Westminster

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), 9,800+ 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.

Courtesy Of RE/MAX Progroup Realty

Main Features

  • Listing Status: Active
  • Units: 10
  • MLS® Number:C8030227

Additional Features

  • Style:
    • Multi-Family Commercial
  • Floor Area Fin - Main Flr:
    • 0
  • Short Region Code:
    • Vancouver
Neighborhood info courtesy of Homes.com © 2020