4
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$6,500,000
Est. payment /mo
21,619 SqFt
New
317 THIRD AVENUE New Westminster, BC V3L1M5
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 21,619 sqft
Price per Sqft $300
MLS® Listing ID C8070444
Year Built 1925
Lot Size 0.549 Acres
Acres 23925.0
Source Greater Vancouver REALTORS®
Property Description
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 4.3% 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. (id:24570)
Location
Province BC
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Storm sewer
Listed by Team 3000 Realty Ltd.