$5,800,000

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:64343)

Business

Business Type	Other
Business Sub Type	Other

Property Details

MLS® Number	C8077829
Property Type	Multi-family
Features	Lane

Building

Amenities	Street Lighting
Constructed Date	1925
Size Interior	21,619 Ft2

Land

Acreage	No
Sewer	Storm Sewer
Size Irregular	23925
Size Total	23925 Sqft
Size Total Text	23925 Sqft
Zoning Description	Rs-4

Utilities

Cable	Available
Electricity	Available
Natural Gas	Available
Telephone	Available
Sewer	Available

https://www.realtor.ca/real-estate/29602551/317-third-avenue-new-westminster