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9,800 ft²
Multifamily
$5,288,800
Sale


Fraser Elliott
Fraser Elliott
Fraser Elliott

UNBEATABLE INVESTMENT OPPORTUNITY WITH REDEVELOPMENT POTENTIAL! 11-unit multifamily building in prime Queens Park location in New Westminster. Large land parcel (17,667 sq.ft), 9,800+ sq.ft of living area, non-heritage status, 10 self contained suites (Four studios and Six 1 bdrms), plus one caretaker suite (studio), as well as a separate five stall garage building. Separately metered for all utilities, hydro, gas, cable. Low maintenance costs of approx 10% of gross income. Current residential zoning = low property tax. Queens Park OCP 2041 proposes medium density transition zone. Unique site with 3 laneways converging at rear of property allowing for strategic redevelopment access points. Updated throughout incl new roof in 2006, newer high efficiency boiler system, all electrical and copper piping done in 1990's, clean environmental phase 1 recently completed. Approx. $200,000 of NET INCOME. Priced at 3.8% cap rate.


The Space
Asking Price$5,288,800
Available Space9,800 ft²

The Building

UNBEATABLE INVESTMENT OPPORTUNITY WITH REDEVELOPMENT POTENTIAL! 11-unit multifamily building in prime Queens Park location in New Westminster. Large land parcel (17,667 sq.ft), 9,800+ sq.ft of living area, non-heritage status, 10 self contained suites (Four studios and Six 1 bdrms), plus one caretaker suite (studio), as well as a separate five stall garage building. Separately metered for all utilities, hydro, gas, cable. Low maintenance costs of approx 10% of gross income. Current residential zoning = low property tax. Queens Park OCP 2041 proposes medium density transition zone. Unique site with 3 laneways converging at rear of property allowing for strategic redevelopment access points. Updated throughout incl new roof in 2006, newer high efficiency boiler system, all electrical and copper piping done in 1990's, clean environmental phase 1 recently completed. Approx. $200,000 of NET INCOME. Priced at 3.8% cap rate.

Property TypeMultifamily
Building Size9,800 ft²
Lot Size17,667 ft²
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Fraser Elliott
Fraser Elliott
Fraser Elliott
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