517 Tenth St - Apartments FOR SALE


New Westminster, BC V3M 3Z4
$7,500,000 CAD
604-640-5871
517 Tenth St, New Westminster, BC for Sale
$7,500,000 CAD
Apartments - FOR SALE
1/1
null | 3.69% Cap Rate

517 Tenth St
New Westminster, BC V3M 3Z4


HIGHLIGHTS

  • New Westminster’s location is the geographic centre of Metro Vancouver and is adjacent to four distinct municipalities.
  • Exceptional yield growth potential evidenced by the 105% mark-to-market rental upside.
  • Healthy mix of bachelor, one, two, and three bedroom units ensures enduring rental demand across a wide-range of high-quality tenants.
  • Offered at an investment value which is well below the current improvement’s replacement cost.

OVERVIEW

Cushman & Wakefield ULC is pleased to present to the value-add investment market on an exclusive basis on behalf of the Vendor, a 100% freehold interest in 517 Tenth Street, New Westminster, BC (the “Property”). More commonly referred to as Birchwood Manor, the four-storey wood-frame building is comprised of 2 bachelor, 12 one-bedroom, 17 two-bedroom, and 1 three-bedroom unit for a total of 32 residential suites. Suite sizes at the property average approximately 761 square feet with a total net rentable area of 24,349 square feet. The 23,513 square foot lot is located steps away from Moody Park and retail amenities in Royal City Centre mall.

FOR SALE DETAILS

PRICE

$7,500,000 CAD

PRICE/SF

$204 CAD /SF

# OF UNITS

32

PRICE/UNIT

$234,375

CAP RATE

3.69%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Birchwood Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,920 SF

ZONING

-

APN/PARCEL ID

000702005

ASK ABOUT THIS PROPERTY

David VenanceCushman & WakefieldMore Info
604-640-5871

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David VenanceCushman & WakefieldMore Info
604-640-5871

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.