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$ 5,800,000
Est. payment | /mo
21,619 SqFt
$ 5,800,000
Est. payment | /mo
21,619 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 21619
Square Footage 21,619 sqft
Price per Sqft $268
MLS® Listing ID C8077829
Year Built 1925
Lot Size 0.549 Acres
Acres 23925.0
Appx SqFt 21619
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. (id:24570)
Location
Province BC
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Sewer Storm sewer
Listed by Team 3000 Realty Ltd.
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