411 THIRD AVENUE New Westminster, BC V3L 2S3

261104369 49.213024 -122.9131 734 /listing/261104369-150122832/411-third-avenue-new-westminster-bc-v3l-2s3 False 0 5288800.0 6373 101 C8030227 False
$5,288,800

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), 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.

Courtesy Of RE/MAX Progroup Realty
  1. 6,373 Sq. Ft.

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
Casey Whitworth
Casey Whitworth
Associate
(604) 812-5410 (604) 541-4888
15414 - 24th Avenue Surrey BC V4A 2J3
request more info.
49.213024 -122.9131

411 THIRD AVENUE New Westminster, BC V3L 2S3

261104369 49.213024 -122.9131 734 /listing/261104369-150122832/411-third-avenue-new-westminster-bc-v3l-2s3 False 0 5288800.0 6373 101 C8030227 False
  • $5,288,800
  • 6,373 sqft