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7,000 ft²
Multifamily
$5,500,000
Sale


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Marine View Manor is a well maintained classic 21 unit apartment building located in the West End neighbourhood of New Westminster. Ideally located close to the downtown core and within walking distance to Moody Park and the Royal City Centre offering tenants immediate access to recreation, mass transit, and an abundance of shopping and amenities. Situated on a 7,000 square foot lot with attractive curb appeal, the building features updated and nicely appointed suites with hardwood floors, gas stoves, with some having beautiful views. The unique layouts of the suites offer high ceilings and a very spacious feel with an abundance of light. There is a laundry room with 2 sets of washers and dryers (owned by the building) and ample storage and maintenance rooms. The building is serviced by a new boiler system (2018) that provides hot water heat throughout and a full-size domestic hot water tank. The roof was replaced with a triple torch-on membrane in 2012 and common area carpets have all been recently replaced. Each unit is individually metered with its own panel and hardwired heat and smoke detectors.


The Space
Asking Price$5,500,000
Available Space7,000 ft²
Net Operating Income$208533
Property UseInvestment property
ZoningRM-2
Cap Rate3.79%
Year Built1935
SourceDirect

The Building - Marine View Manor
Property TypeMultifamily
Floors3
Building Size7,000 ft²