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British Columbia
New Westminster
317 THIRD AVENUE

$5,800,000

317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

MLS® # C8077829

New Westminster BC, V3L 1M5

MLS® # C8077829

Property Information:

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:27)

Building Features:

Style: Multiplex
Amenities: Street Lighting
Floor Space: 21619 sqft

Property Features:

Property Type: Multi-family
Built in: 1925
Features: Lane
Floor Space (approx): 21619 Square Feet
Irregular: Yes
Lot Size: 23925.00 Square Feet
Utility Type: Cable - Available, Sewer - Available, Natural Gas - Available, Telephone - Available, Hydro - Available
Zoning: RS-4
Sewer: Storm sewer

Courtesy of: Team 3000 Realty Ltd.

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⚠ Potential Investment Performance

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Market Price Trends

Location of 317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

Lifestyle
Neighbourhood

Demographic Information of 317 THIRD AVENUE, New Westminster, British Columbia, V3L 1M5

Life Stage

Older Families

Employment Type

Service Sector/White Collar

Average Household Income

$154,903.13

Average Number of Children

1.56

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

10.55 %

High school certificate or equivalent

25.34 %

Apprenticeship trade certificate/diploma

5.33 %

College/non-university certificate

17.21 %

University certificate (below bachelor)

3.0 %

University Degree

38.57 %

Commuter

Travel To Work

By Car

64.57 %

By Public Transit

24.15 %

By Walking

8.0 %

By Bicycle

0.26 %

By Other Methods

3.02 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

64.46 %

Houses

35.54 %

Own Vs. Rent