1222 5th Ave, New Westminster, BC V3M 1Y8, Canada
Price Reduced $7,188,000 - Apartment Building

Information Package


Location


The apartment building resides on a quiet street in the northeast corner of Fifth Avenue and Thirteenth Street. The neighbourhood is rapidly evolving with new development being constructed. Shopping is available in Columbia Square or along 12th Avenue. Bus transit is only a block away. Built in 1977 and completely renovated last year.


Building Description


Enjoy a turnkey apartment building that has been completely rebuilt from the studs up. All suites have electric heating keeping utility costs minimal. Everything has been reconstructed or changed with many effective warranties on the work. Many suites have views of the Fraser River. All units have balconies. The property has underground parking and an elevator.
The following is a list of improvements:

  • New windows
  • New vinyl flooring
  • New kitchens
  • In-suite washer/dryer for 18 units
  • Renovated lobby
  • Complete replumb
  • New appliances

Property Details
Number of units 21
Stabilized net operating income $289,814
Capitalization rate 4.0%
Price per unit $361,905
Lot size 13,720 square feet
Zoning RM-2
Parking 21 secured underground

Suite Mix
One-Bedroom 16 units
Two-Bedroom 5 units
Total 21 units
Property on Map

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