Charles Zhou  778-855-1110  charleszhou@remax.net

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411 THIRD Avenue in New Westminster: Queens Park Multi-Family Commercial for sale : MLS® # C8011546

411 THIRD Avenue New Westminster V3L 1M6 : Queens Park

Front Exterior
$4,588,000
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8011546
Status:
Active
Build. Type:
Low Rise (2-4 stories)
100% Freehold property. 3.5% cap with high revenue/holding/development/owner occupier opportunity in prime Queens Park. Selling as high revenue Holding/Development property. Large additional housing potential future density up to (RM4) for new development and/or bonus density to retain existing 1912 Iconic Trophy property in process. Never offered for past 20 years. Prime Multifamily, or well suited to be a seniors assisted housing bldg for higher revenues. Over 185k/yr gross, low expense, tenant paid hydro & gas, $163K NOI on actuals. Lge land parcel (3 lots size) at near 1/2 acre. Originality in tact, upgrades thruout. Newer (2006) top of the line cedar shake roof ($70k), Trophy performer. Well known and top calibre 1912 Arts & Crafts Mansion. 10 large character suites, plus caretaker suite, plus separate 5 garage bay bldg - all occupied. Established, upscale heritage neighborhood. New Westminster, especially the jewel of Queens Park, named 1 of the best areas of the lower mainland for livability&inv.
Sale Type:
Asset
Property Type:
Multi-Family Commercial
Construction:
Wood Frame, Mixed
Building Type:
Low Rise (2-4 stories)
# Units:
11
Year built:
1912 (Age: 105)
Land Use/Zoning:
RS-1
Taxes:
$13,266.03 / 2016
# Elevators:
0
HVAC:
Hot Water
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
$159,198
Tot Gross Sales:
Condo Fee:
Lse Op Costs SF:
Listed Date:
Previous Price:
Original Price:
Listed by Macdonald Commercial R.E.Serv.
Listing information last updated on 4-Apr-2017 7:05 PM
CHARLES ZHOU PREC