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217 ROYAL Avenue
Queens Park New Westminster V3L 1H4

$6,999,000
Multi-Family Commercial

Main Photo: 217 ROYAL Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8052084
Photo 1: 217 ROYAL Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8052084
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Photo 22: 217 ROYAL Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS®# C8052084
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8052084
Build. Type:
Freestanding
DEVELOPER & INVESTOR ALERT, great FREE STANDING income generating property for sale with HIGH RISE RESIDENTIAL REDEVELOPMENT opportunity in future. This 4-Storey multi-family building located in vibrant Queens Park with stunning Panoramic River Views from south exposure. There are 19 1-bedroom units include 2 penthouse suites with free parking in back yard, well maintained for a cozy and quiet living atmosphere, hardwood floor, 7 years' old boiler. Positive cash flow keeps sustainable to meet strong rental demand. OCP: RH (RESIDENTIAL–HIGH RISE), potential for high density residential development. Central location, steps to Downtown New West, close to all your daily needs, such as transits, parks, schools, shopping and Douglas College, you name it. Walk Score: 80/Very Walkable. School catchment: Qayqayt Elementary and New Westminster Secondary. Great opportunity for developers & investors. Do not walk through property, do not bother occupants! Call to inquire.
Sale Type:
Asset
Construction:
Wood Frame, See Remarks
Building Type:
Freestanding, Low Rise (2-4 stories), Multiple Tenant/Multi-Plex (5+)
Name of Complex/Subdivision:
# Units:
19
# Other Units:
# of Appartments:
19
# of Studio Appartments:
0
# of Penthouse Appartments:
2
# of Bachelor Appartments:
0
# of 4+ Bedroom Appartments:
0
# of 1 Bedroom Appartments:
17
# of 2 Bedroom Appartments:
0
# of 3 Bedroom Appartments:
0
# Storeys:
4.0
Year built:
1961 (Age: 63)
Total Floor Area:
11,347 sq. ft.
Lot Area:
8,872.55 sq. ft.
Lot Depth:
163
Lot Frontage:
54'2"
Land Use/Zoning:
RM2
Permitted Use:
Multifamily (5+), Residential
Taxes:
$17,305.26 / 2023
Balconies, Laundry Facility, Paved Yard, Fenced Yard
Services Connected:
Cable, Electricity, Garbage Collection, Lane Paved
Water Supply:
Municipal
Roof:
Sewer Septic:
Municipal/Community
Potential to Redevelop:
Yes
Env Assmt Phase:
Not Applicable
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Previous Price:
Original Price:
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Virtual Tour

Listed by Nu Stream Realty Inc.
Data was last updated June 19, 2024 at 10:05 PM (UTC)
Bruce Long CCIM, FRI, PREC
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