Property

New Westminster, BC V3L2S3 411 Third Avenue

411 Third Avenue New Westminster, BC - Image 1411 Third Avenue New Westminster, BC - Image 2411 Third Avenue New Westminster, BC - Image 3
  • MLS# C8061067
  • 06/20/2024
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Presented By: Macdonald Commercial Real Estate Services Ltd.
  • SQFT • 6,373

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**COURT ORDERED SALE** Located in New Westminster's esteemed Queens Park area, this 11-unit property presents a stellar investment opportunity at a 5.41% CAP rate with significant redevelopment potential. Offering a mix of studios and one-bedroom apartments, along with a separate five-stall garage, the building is well-suited for long-term holdings. With the possibility to construct an accessory dwelling, this property offers potential for future income increases. Tenants are responsible for their own utilities, contributing to low operational costs. Key upgrades include a new roof in 2006, updated electrical, and plumbing systems. This property is an ideal acquisition for investors seeking stable returns and growth in a prime location or developers looking for a stable income asset with infill development potential
Presented By: Macdonald Commercial Real Estate Services Ltd.

General for 411 Third Avenue

AmenitiesBalconies, Outside Storage, Secured Parking, Fenced Yard
CityNew Westminster
RegionGreater Vancouver
StatusACTIVE
SubdivisionQueens Park
Transaction TypeFor Sale

Additional Details

NAV SEKHON

Realtor
Price $4,880,000
MLS#C8061067
List Date 06/20/2024
Property Type Commercial
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