1320 Fifth Avenue, New Westminster

1320 Fifth Avenue, New Westminster

$2,100,000 - Apartment Building - Sold by NAI Commercial

Property Attachments

    Sale Price: $2,000,000

    Multi-Family property for sale

    Description:

    This apartment building contains a unique suite mix of 12 two bedrooms and a one bedroom + den. Current rents are below market levels. Vacancies rates continue to decline in New Westminster and tenant profiles evolve towards younger professionals looking to rent instead of buying, generating the possibility to capitalize on the underachieving potential of the property.

    Property Details
    Sale Price $2,000,000
    Number of Units 13
    Price Per Door $160,000
    Capitalization Rate 3.6%
    Potential Capitalization Rate 6.1%
    Net Operating Income $74,721
    Potential Net Operating Income $127,791
    Lot Size 66’ x 132’ = 8,712square feet
    Parking 6 open stalls
    Suite Mix
    One Bedroom & Den 1
    Two Bedroom 12
    Total 13

    Property on Map

    Property Attachments

      No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.

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