For Sale: 317 Third Avenue, New Westminster, BC - REW
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$5,800,000
0 bd • ba • 21619 sf • Multifamily
317 Third Avenue
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$5,800,000
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317 Third AvenueNew Westminster, BC, V3L 1M5

Queen's Park
  • 0 Bed
  • Bath
  • 21619 Sqft
  • Multifamily

About this home

Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside potential. The property generates approximately $37,300 per month with a 5.53% cap rate and clear opportunity for growth as rents are brought toward market levels, with increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedroom units, 1 two-bedroom unit, and 4 bachelor units, with all tenancies on a month-to-month basis and consistently low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery and is expected to significantly reduce heating expenses, enhancing overall operating efficiency. Features include hardwood flooring, a central courtyard, on-site laundry, storage, and 13 enclosed garages. (id:63626)
Listed by: Brenan Day PREC*, Team 3000 Realty Ltd.

Home facts and features

Price details
List Price
$5,800,000
Get Pre-Approved
Gross Taxes for 2025
$44,694
Home facts
Bedrooms
0
Full Bathrooms
Property Type
Multifamily
Lot Size
23925 ft²
Depth
Year Built
Built in 1925 (101 yrs old)
Features
Lane, Street Lighting
Community
Agent details
Primary Agent
Primary Broker
Team 3000 Realty Ltd.
Listing details
Days on REW
52 Days
Property Views
2930
MLS® Number
C8077829
Source
Canadian Real Estate Association
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

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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Call Agent
Brenan Day PREC*
Phone:
604-788-9195
Cell:
604-788-9195
Office:
778-297-3000
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.