317 Third Avenue New Westminster, British Columbia V3L 1M5
$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:63476)
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 Sqft |
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 |
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April 15 2026 12:01:17
Greater Vancouver REALTORS®
Team 3000 Realty Ltd.