REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 6,000,000
Est. payment /mo
Active
317 Third AVE New Westminster, BC V3L 1M5
0.55 Acres Lot
UPDATED:
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
