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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 Type
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Listing Agent
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
Bedrooms 10
Bath 11
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 The Firm Real Estate Services Ltd.
Days on REW 52 Days on REW
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25 Years
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3.19 %
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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
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
Ecole Glenbrook Middle School
  • Public
  • 6 - 8
Our Lady of Mercy School
  • Independent
  • K - 7
John Knox Christian 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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Fraser Elliott PREC*, Real Estate Agent
The Firm Real Estate Services Ltd.

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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.