411 Third Avenue, New Westminster

$5,288,800

10 Beds
11 Baths
6,343 Sqft
.41 Acres

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

Essential Information
MLS® #R2431138
Price$5,288,800
Bedrooms10
Bathrooms11.00
Full Baths11
Square Footage6,343
Acres0.41
Year Built1912
TypeMulti-Family
Sub-TypeOther
StatusActive
Community Information
Address411 Third Avenue
AreaNew Westminster
SubdivisionQueens Park
CityNew Westminster
ProvinceBC
Postal CodeV3L 2S3
Listing Details
OfficeRE/MAX Progroup Realty
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Listing information last updated on April 5th, 2020 at 10:00pm CDT.