317 Third AVE, New Westminster, BC V3L 1M5
317 Third AVE, New Westminster, BC V3L 1M5
317 Third AVE, New Westminster, BC V3L 1M5
317 Third AVE, New Westminster, BC V3L 1M5
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Harman Tuhan

Harman Tuhan

+1(778) 321-8880
$ 5,800,000
Est. payment | /mo

0.55 Acres Lot

Save
$ 5,800,000
Est. payment | /mo
Save

0.55 Acres Lot

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type Asset

MLS Listing ID C8077829

Year Built 1925

Lot Size 0.550 Acres

Property Sub-Type Multi Family

Property Description

Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside potential. The property generates approximately $37,300 per month with a 5.53% cap rate and clear opportunity for growth as rents are brought toward market levels, with increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedroom units, 1 two-bedroom unit, and 4 bachelor units, with all tenancies on a month-to-month basis and consistently low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery and is expected to significantly reduce heating expenses, enhancing overall operating efficiency. Features include hardwood flooring, a central courtyard, on-site laundry, storage, and 13 enclosed garages.

Location

Province BC

Community Queens Park

Area New Westminster

Zoning RS-4

Interior

Heating Hot Water

Appliance Common Water Heater

Exterior

Utilities Available Cable Connected, Curb/Gutter, Electricity Connected, Garbage Collection, Natural Gas Connected, Phone Connected, Street Lighting, Sidewalk

Roof Type Torch On

Street Surface Paved

Total Parking Spaces 13

Building

Story 3

Sewer Public Sewer, Sanitary Sewer, Storm Sewer

Water Public

Others

Restrictions None Known

Ownership Freehold

Security Features Secured Garage/Parking,Secured Yard

REBGV/FVREB/Chilliwack (Commercial IDX)
Nearby Locations
Harman Tuhan

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(778) 321-8880

harman.tuhan@stonehausrealty.ca

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317 Third AVE