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525 Eleventh Street

New Westminster

Apartment Building
73 Suites

SOLD $10,950,000

Overview

The subject property is a 9 storey, 73-suite concrete high-rise located in New Westminster. The entire building has undergone an extensive renovation program worth approximately $3.5M. Features include balconies with some views, secure underground and grade parking, twin elevators and security system. Situated two and a half blocks from the Royal City Centre Shopping Mall and one and a half blocks to Moody Park.

Summary

Price$11,000,000
Units73
Price/Unit$150,685
Cap Rate5%
Year Built1971
Lot Size247.44' frontage on 11th Ave. (0.61 acres)
ZoningRM-4
PID007-354-827
Sale Price$10,950,000
Sale Date09/01/2009

Suite Mix

 No. Units
BachelorNo. Units10
One BedroomNo. Units53
Two BedroomNo. Units10

Financials

FinancingClear Title.
Assessment 2009
Land
Building
Total
Land$2,937,000
Building$5,109,000
Total$8,046,000
Taxes 2009
$49,372.67

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by HQ Commercial.

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