815 – 5th Ave, New Westminster

815 – 5th Ave, New Westminster

$8,600,000 - Apartment Building - Sold by NAI Commercial

SOLD PRICE: $8,900,000

SOLD DATE: June 23, 2016


Location


61 unit apartment building. Easy access to public transportation on 8th Street. Shopping is plentiful within a two minute walk to the Royal Centre Mall. Moody Park is just a few blocks away.


Apartment building


The subject property is located at 8th Street and 5th Avenue. This could be considered the heart of New Westminster. This location offers public transportation within steps of the building on 8th Street. Direct access to the downtown core of Vancouver and Burnaby is also via 8th Street. Shopping is plentiful within a two minute walk at the Royal Centre Mall. This is the large regional mall which services the majority of New Westminster’ s grocery and shopping needs. This mall has the stores and services required by any tenant encouraging an older clientele in the building due to its superb location.

Property Details
Number of Units 61
Price Per Door $140,983
Capitalization Rate 3.84%
Net Operating Income $330,040
Lot Size 165’ x 238’ = 39,222 slightly irregular with north to south slope offering view corridors
Gross Floor Area 49,918 square feet
Net Rentable Area 42,430 square feet
Parking 36 secured

7 covered

14 uncovered

Suite Mix
Bachelor 4
One Bedrooms 47
Two Bedrooms (2 pc. Ensuite) 7
Three Bedrooms (2 pc. Ensuite) 3
Total 61

Property on Map

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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