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New Westminster,BC V3L 1M5
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type Asset
MLS Listing ID C8070444
Year Built 1925
Lot Size 0.550 Acres
Property Sub-Type Multi Family
Property Description
Carlton Court is a meticulously maintained 26-suite, three-storey rental apartment building located in the highly desirable Queen's Park neighborhood of New Westminster. Built in 1925, this iconic heritage property has served as a community landmark for a century. It generates over $35k/month in gross income (more than $400k/year) with a 4.63% cap rate and significant upside potential. The unit mix includes 21 one-bedrooms, 1 two-bedroom, and 4 bachelors, with a historically low vacancy rate below 0.5% and a strong tenant base. The building features original hardwood floors, heritage decor, an open-air courtyard, tenant storage, on-site laundry, 13 enclosed garages, and ample street parking. Professionally managed and in excellent condition, this is a rare opportunity to acquire a legacy asset in one of Metro Vancouver's most sought-after rental markets. **New furnace & high-speed fibre optic internet recently installed.
Location
Province BC
Community Queens Park
Area New Westminster
Zoning RS-4
Interior
Heating Hot Water
Appliance Common Water Heater
Exterior
Utilities Available Cable Connected,Curb/Gutter,Electricity Connected,Garbage Collection,Natural Gas Connected,Phone Connected,Street Lighting
Roof Type Torch On
Street Surface Paved
Total Parking Spaces 13
Building
Story 3
Sewer Public Sewer,Storm Sewer
Water Public
Others
Restrictions None Known
Ownership Freehold
Security Features Building Security,Secured Garage/Parking