Multifamily for Sale

Forgot password Extend Verify Contact

411 THIRD Avenue
Queens Park New Westminster V3L 2S3

$4,600,000
Land Commercial, Multi-Family Commercial

Main Photo: 411 THIRD Avenue, New Westminster
Photo 1: 411 THIRD Avenue, New Westminster
Photo 2: 411 THIRD Avenue, New Westminster
Photo 3: 411 THIRD Avenue, New Westminster
Photo 4: 411 THIRD Avenue, New Westminster
Status:
Active
Prop. Type:
Land Commercial, Multi-Family Commercial
MLS® Num:
C8061067
Build. Type:
Low Rise (2-4 stories)
**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:
# Other Units:
# 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:
Sewer Septic:
Municipal/Community
Potential to Redevelop:
Yes
Env Assmt Phase:
Yes
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Previous Price:
Original Price:
  • Photo 1: 411 THIRD Avenue, New Westminster
    Photo 1 of 4
  • Photo 2: 411 THIRD Avenue, New Westminster
    Photo 2 of 4
  • Photo 3: 411 THIRD Avenue, New Westminster
    Photo 3 of 4
  • Photo 4: 411 THIRD Avenue, New Westminster
    Photo 4 of 4
Larger map options:
Larger map Satellite map Street View Walkscore
Listed by Macdonald Commercial Real Estate Services Ltd.
Data was last updated October 30, 2024 at 02:10 AM (UTC)
Reciprocity Logo
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.
Powered by myRealPage.com
Reciprocity Logo 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.