BC > New Westminster
New Westminster, BC V3L 1M5,317 Third AVE
New Westminster, BC V3L 1M5,317 Third AVE
New Westminster, BC V3L 1M5,317 Third AVE
New Westminster, BC V3L 1M5,317 Third AVE
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Ryan MacMillan

Ryan MacMillan

+1(604) 626-6339
$ 6,500,000
Est. payment | /mo

0.55 Acres Lot

Save
$ 6,500,000
Est. payment | /mo
Save

0.55 Acres Lot

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 4.3% 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.

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

REBGV/FVREB/Chilliwack/BC Northern (Commercial VOW)
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+1(604) 626-6339

ryan.macmillan@exprealty.com

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317 Third AVE

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