Multi Family

411 THIRD Avenue
Queens Park New Westminster V3L 2S3

$5,288,800
Multi-Family Commercial

Main Photo: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 1: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 2: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 3: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 4: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 5: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 6: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 7: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 8: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 9: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 10: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 11: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Photo 12: 411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8030227
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8030227
Build. Type:
Multiple Tenant/Multi-Plex (5+)
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.
Sale Type:
Asset
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Multiple Tenant/Multi-Plex (5+)
# Units:
10
# Storeys:
2.0
Year built:
1912 (Age: 108)
Land Use/Zoning:
RS-1
Taxes:
$12,710.97 / 2019
Env Assmt Phase:
Not Applicable
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Lse Op Costs SF:
Previous Price:
Original Price:
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Listed by RE/MAX Progroup Realty
Data was last updated February 24, 2020 at 11:05 PM (UTC)
Bruce Long CCIM, FRI
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