231 Eighth Street, New Westminster

231 Eighth Street, New Westminster

$4,080,000 - Sold by NAI Commercial

Property Attachments

    Multifamily Property For Sale

    Information Package

    Location

    The subject property is located on Eighth Street between third and Queens Avenue. This location offers public transportation within walking distance of the building, New Westminster skytrain station and Douglas College are within seven minutes walking distance providing direct access to Vancouver city center and Metrotown.

    Description

    The building is a four storey wood-frame apartment building with a total of 23 suites and 1 two bedroom penthouse.

    • Heated with a radiant how water system, supplied by an original Beaver Brook boilers
    • One elevator
    • Torch on roof (2000)
    • Spacious suites with hardwood floors and tasteful kitchen cabinets and appliances
    • Full storage lockers
    • Most suites are accompanied by a balcony
    • Penthouse has large deck with breathtaking views

    No. Units: 24
    Net Rentable Area: 16,400
    SFPrice/Unit: $170,000 CAD
    Property Type: MultifamilyProperty
    Sub-type: Garden/Low-Rise
    Property Use Type: Investment

    Cap Rate: 4.10%

    Suite Mix
    Bachelor 3
    One Bedroom 14
    Two Bedroom 6
    Two Bedroom Penthouse 1
    Total 24

    Parking
    Covered 8
    Open 13
    Total 21

    Zoning RM-2 Multi-Family

    Lot Size 132’ x 131’ approx.  Total lot size is 17,250 sq.ft

    Age: Built in 1965

    Property Taxes (2015) $15,805

    Property Assessment (2014)
    Land $1,345,000
    Improvement $1,459,000
    Total $2,804,000

    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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