The subject property is a wood frame 18-suite low-rise apartment building in excellent condition centrally located in the Queens Park neighbourhood of New Westminster. The building has been extensively upgraded including suites and common areas over the years. The subject features a suite mix of 16-1Br & 2 bachelor, covered parking, storage lockers and elevator.
The property is located in an upscale neighborhood of New Westminster known as Queens Park, close to all amenities, shopping, transit, Douglas College, public parks and recreation facilities. The building is situated on Manitoba Street between Royal Avenue to the north and Queens Avenue to the south.
– 16 one bedrooms – Most suites have been entirely renovated
– All units have new balconies and railings as well as new double-pane windows, are individually metered and are equipped with smoke detectors
– Building features an elevator, an intercom system and 17 all-covered parking stalls
– Main piping system has been recently replaced as well as the torch-on roof
– Washers and dryers are all new, utilizing a cashless system
– Hot water heating system was recently replaced
|No. units||Average size|
|Bachelor||No. units2||Average size600|
|One Bedroom||No. units16||Average size700|
|Financing||Treat as clear title.|
|Income and expenses|
Net operating income
|Notes||Income annualized as of June 2010.|
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.