Townhouse development site

337 & 339 Keary Street, New Westminster

$3,800,000

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Price $3,800,000

Property type Townhouse site

Units 11 units

Storeys 3

Lot size 17,296 SF (131.8’ × 131.1’)

Zoning RS-1 (existing)

Parking 16 underground stalls

Floor space ratio 0.85 FSR above grade

Development potential 14,700 SF

Price per SF buildable $256/SF buildable

PID 013-148-354 & 001-059-696

Legal description Lot 30 & 35 of Lots 8 and 9 Suburban Block 3 Plan 2620

Overview

The subject property is a 17,296 SF (131.8’ × 131.1’) development site in the Sapperton neighbourhood of New Westminster. There are architectural plans in place for an 11-unit townhouse project for a total unit saleable area of 14,700 SF. The site is currently improved with 2 single-family homes generating approximately $5,000 per month in revenue.

Location

The property is located in historic Sapperton, a village like neighbourhood within the City of New Westminster.

Notable location highlights within walking distance include the Royal Columbian Hospital, Sapperton Park, the main retail strip of East Columbia a half-block away, the Brewery District community with a variety of shops and amenities, and the Sapperton Skytrain Station only a 5-minute walk away.

Sapperton is nestled in the northeast corner of New Westminster, flush with Coquitlam and Burnaby, and bordered by McBride Boulevard on the west, East Eighth Avenue to the north, and Brunette Avenue and East Columbia Street in the southeast. Sapperton descends from Massey Victory Heights down to the Fraser, and offers views of the river, Mount Baker and the Coast Mountains.

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	No. units	Average size	Average rent
Type A (4BR)	No. units6	Average size1,339
Type B (4BR)	No. units5	Average size1,333

Financials

Financing	Treat as clear title.
Assessment 2019	Land Building Total	Land$3,166,000 Building$29,000 Total$3,195,000
Taxes 2019	$12,558
Notes	For more information, please contact the listing agent. Note: Density, number of units & suite mix based on architectural drawings.

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