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411 THIRD Avenue
New Westminster
V3L 2S3
$4,880,000
Land Commercial, Multi-Family Commercial
- Status:
- Active
- Prop. Type:
- Land Commercial, Multi-Family Commercial
- MLS® Num:
- C8061067
- Build. Type:
- Low Rise (2-4 stories)
- Photos (4)
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**COURT ORDERED SALE** Located in New Westminster's esteemed Queens Park area, this 11-unit property presents a stellar investment opportunity at a 5.41% CAP rate with significant redevelopment potential. Offering a mix of studios and one-bedroom apartments, along with a separate five-stall garage, the building is well-suited for long-term holdings. With the possibility to construct an accessory dwelling, this property offers potential for future income increases. Tenants are responsible for their own utilities, contributing to low operational costs. Key upgrades include a new roof in 2006, updated electrical, and plumbing systems. This property is an ideal acquisition for investors seeking stable returns and growth in a prime location or developers looking for a stable income asset with infill development potential
- Sale Type:
- Asset
- Construction:
- Wood Frame, Mixed
- Building Type:
- Low Rise (2-4 stories), Residential Mix, Multiple Tenant/Multi-Plex (5+)
- Name of Complex/Subdivision:
- Signup
- # Other Units:
- Signup
- # of Appartments:
- 11
- Total Floor Area:
- 6,373 sq. ft.
- Lot Area:
- 17,899.08 sq. ft.
- Land Use/Zoning:
- RS-4
- Permitted Use:
- Residential
- Taxes:
- $12,819.49 / 2023
- Balconies, Outside Storage, Secured Parking, Fenced Yard
- Services Connected:
- Electricity, Garbage Collection, Lane, Lane Paved, Paved Streets, Telephone, Street Lighting, Sidewalk
- Water Supply:
- Municipal
- Roof:
- Signup
- Sewer Septic:
- Municipal/Community
- Potential to Redevelop:
- Yes
- Env Assmt Phase:
- Yes
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Listed by Macdonald Commercial Real Estate Services Ltd.
Data was last updated June 29, 2024 at 02:10 PM (UTC)
- KENNY PAPPAS
- AMEX BROADWAY WEST REALTY
- 1 (604) 7677867
- Contact by Email
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
Copyright 2024 by the Greater Vancouver REALTORS®,
Fraser Valley Real Estate Board and Chilliwack & District Real Estate Board. All Rights Reserved.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.