317 Third Avenue

$6,500,000 |   MLS® Number  C8070444

Multi-family for sale in Queens Park, New Westminster, New Westminster, 317 Third Avenue, 224975513 | Realtylink.org

Multi-family for sale

Year Built
1925
Floor Area
21,619 sqft
Lot Size
23,925 sqft
Gross Property Tax
$44,693 /year
Building Type
Low Rise (2-4 storeys), Mul Tenant/MultiPlex (5+)
Building / Complex Name
Carlton Court
Zoning
RS-4
# of Parking Spaces
13
Subject Property Width
165 ft
Subject Property Depth
145 ft
Amenities
Emergency Lighting, Laundry Facility, Secured Building, Secured Parking
Suite Mix Information
x Bachelor/Studio, 21 x 1 ½, 1 x 2 ½
Total no. of Units
16
Financial Summary
$401,864

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.