317 THIRD AVENUE

New Westminster, BC V3L1M5

Carlton Court is a meticulously maintained 26-suite, three-storey rental apartment building located in the highly desirable Queen's Park neighborhood of New Westminster. Built in 1925, this iconic heritage property has served as a community landmark for a century. It generates over $35k/month in gross income (more than $400k/year) with a 4.3% cap rate and significant upside potential. The unit mix includes 21 one-bedrooms, 1 two-bedroom, and 4 bachelors, with a historically low vacancy rate below 0.5% and a strong tenant base. The building features original hardwood floors, heritage decor, an open-air courtyard, tenant storage, on-site laundry, 13 enclosed garages, and ample street parking. Professionally managed and in excellent condition, this is a rare opportunity to acquire a legacy asset in one of Metro Vancouver's most sought-after rental markets. (id:31684)

Listing courtesy of: Brenan Day of Team 3000 Realty Ltd.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. These trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.