101 Royal Ave, New Westminster, BC V3L 1H1, Canada
For Sale $15,000,000 - Apartment Building

Information Package


Location


Located in the serene neighbourhood of Queen’s Park, this 48-unit apartment building offers stunning views of the Fraser River. Scenic walkways, sports amenities, Vagabond theatre and much more populate the Queen’s Park area. Within a 10-minute walk are an abundance of amenities located on Columbia Street providing tenants with ease and convenience. The City of New Westminster has finalized a new Official Community Plan, which conceptualizes new amenities, development and business for this growing community.


Building Description


$2.6 million have been spent on building improvements to Redwood Manor consisting of:

  • Full suite renovations on 48 suites
  • New roof
  • New double paned windows
  • Building envelope/waterproofing
  • Exterior painting
  • New concrete driveway and parking lot asphalt
  • New penthouse decks
  • New hot water tank, gas line, venting and electrical
  • Boiler transformers/fuses/new wiring & valves throughout suites
  • Parkade lighting, painting and thermal insulation
  • Common area upgrades including new flooring, paint and lighting
  • Elevator modernization and new cab interior
  • New fire alarm control panel
  • Energy efficient lighting throughout building common areas & suites
  • Landscaping and irrigation system
  • Night lighting
  • New stainless steel appliances in all suites consisting of fridges, stoves/ovens, dishwashers & over the range microwaves

Property Details
Number of units 48
Net Operating Income $620,324
Lot size 17,424 SF (132’ x 132’)
Zoning RM-2
Parking 15 surface and 33 underground spaces

Suite Mix
One-Bedroom 37 units
Two-Bedroom 11 units
Total 48 units
Property on Map
Property Attachments

Similar Properties

Our Team brings together some of the best talent in the industry.