411 Third Avenue, New Westminster, BC

Residential, House

  • $5,288,800
  • 10 BEDS
  • 11 BATHS
  • 6,343 sq.ft. Home
  • 411 Third Avenue, New Westminster, BC
  • 10 BEDS
  • 11 BATHS
  • 6,343 sq.ft. Home
  • $5,288,800

Key Facts

  • MLS ID: R2431138
  • Property Type: Residential, House
  • Living Space: 6,343 sq.ft.
  • Lot Size: 17,667.02 sq.ft.
  • Year Built: 1912
  • Bedrooms: 10
  • Bathrooms: 11
  • Other Taxes 2019: $12,711
  • Approximate Age: 108
  • Listed By:
  • The Firm Real Estate Services Ltd.

Property Description

UNBEATABLE INVESTMENT OPPORTUNITY W/ REDEVELOPMENT POTENTIAL! 11-unit multifamily building in prime Queens Park location in New Westminster. 17,667 sq.ft of land, 6,373 sq.ft of living area, non-heritage status, 10 self contained suites (Four studios & Six 1 bdrms), plus one caretaker suite (studio), plus separate five stall garage building. Separately metered for all utilities. Low maintenance costs of approx 10% of gross income. Low property tax. Queens Park OCP 2041 proposes medium density transition zone. 3 laneways converging at rear of property allows for strategic redevelopment access points. Updates incl new roof in 2006, newer HE boiler system, all electrical & copper piping done in 90's, clean environmental phase 1. Approx $200,000 of NET INCOME. Priced at 3.8% cap rate

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This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. Copyright 2020 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, and BC Northern Real Estate Board. All Rights Reserved.
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