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 4.63% 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. **New furnace & high-speed fibre optic internet recently installed. (id:58426)
| BusinessType | Other |
| BusinessSubType | Other |
| MLS® Number | C8070444 |
| Property Type | Multi-family |
| Neigbourhood | Queens Park |
| Features | Lane |
| Amenities | Street Lighting |
| ConstructedDate | 1925 |
| SizeInterior | 21619 Sqft |
| Acreage | No |
| Sewer | Storm Sewer |
| SizeIrregular | 23925 |
| SizeTotal | 23925 Sqft |
| SizeTotalText | 23925 Sqft |
| ZoningDescription | Rs-4 |
| Cable | Available |
| Electricity | Available |
| Natural Gas | Available |
| Telephone | Available |
https://www.realtor.ca/real-estate/28545676/317-third-avenue-new-westminster
Contact us for more information
Brenan Day
Personal Real Estate Corporation
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