Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Approx. Sqft 21619

Square Footage 21,619 sqft

Price per Sqft $268

MLS® Listing ID C8077829

Year Built 1925

Lot Size 0.549 Acres

Acres 23925.0

Property Description

Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside potential. The property generates approximately $37,300 per month with a 5.53% cap rate and clear opportunity for growth as rents are brought toward market levels, with increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedroom units, 1 two-bedroom unit, and 4 bachelor units, with all tenancies on a month-to-month basis and consistently low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery and is expected to significantly reduce heating expenses, enhancing overall operating efficiency. Features include hardwood flooring, a central courtyard, on-site laundry, storage, and 13 enclosed garages. (id:24570)

Location

Province BC

Rooms

Kitchen 0.0

Exterior

Parking Features No

View Y/N No

Attached Garage No

Garage No

Private Pool No

Building

Sewer Storm sewer

Listed by Team 3000 Realty Ltd.

317 THIRD AVENUE New Westminster, BC V3L1M5

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Nader Bakhoum,PMP, P.Eng.

Key Details

Location

Rooms

Exterior

Building

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317 THIRD AVENUE