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411 Third Avenue
  • New Westminster, BC, V3L 2S3

$5,288,800
Est. /mo
Calc
10 Bed
11 Bath
6343 Sqft
Multifamily
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
Property Overview
Lot Size 97 ft x 175 ft (17667 ft²)
Property Age Built in 1912 (108 yrs old)
Gross Taxes for 2019 $12,711
Sub-Area/Community Queen's Park
Property Type Multifamily
Title Freehold NonStrata
Depth 175
Frontage 97.00 feet
Listing ID R2431138
Primary Agent Fraser Elliott PREC*
Primary Broker RE/MAX Progroup Realty
Days on REW 74 Days on REW
HSBC
Sponsored
3 Year High Ratio Mortgage
Purchase Price
$5,288,800
Mortgage Amount
$4,231,040
Down Payment
$1,057,760
Percent
20%
Amortization
25
Interest Rate
1.99
Learn More
A high ratio mortgage is when a customer obtains a personal mortgage with mortgage default insurance with HSBC Bank Canada. Rates are subject to change without notice.
Mortgage Calculator
Your Payments
Purchase Price
Mortgage Amount
Down Payment
  • %
Amort.
25 Years
Interest Rate
2.3 %
Today's Mortgage Rates
5 Year Variable
2.30%
/mo
Free Appraisals
2.45%
/mo
Preapprovals in 4 hours
5 Year Fixed
2.39%
/mo
Preapprovals in 4 hours
2.79%
/mo
Free Appraisals

The Mortgage Payment Calculator is only for basic estimation purposes only and is not part of the application process. Payment amounts are based on the information you provide and may change upon consultation with a mortgage professional.

Nearby Schools
Herbert Spencer Elementary School
  • Public
  • K - 5
  • In Catchment
New Westminster Secondary School
  • Public
  • 9 - 12
  • In Catchment
Urban Academy
  • Independent
  • K - 12
Ecole Glenbrook Middle School
  • Public
  • 6 - 8
Fraser River Middle School
  • Public
  • 6 - 8
Al-Hidayah School
  • Independent
  • K - 7
Purpose Independent Secondary School
  • Independent
  • 8 - 12
Ark Elementary School
  • Independent
  • K - 4
John Knox Christian School
  • Independent
  • K - 7
Our Lady of Mercy School
  • Independent
  • K - 7
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly. Report Incorrect Info
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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.