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Maple Manor Apartments 304 Third Ave 17 Unit Apartment Building $6,700,000 CAD ($394,118 CAD/Unit) 4.02% Cap Rate New Westminster, BC V3L 1M3
EXECUTIVE SUMMARY
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Maple Manor, an extensively renovated multifamily asset with excellent annual income located in New Westminster's desirable Queen's Park neighbourhoood. All suites have been fully renovated to a condo-quality finish, all with in-suite dishwashers and laundry, and fully renovated kitchens and bathrooms. 70% of the units are two and three bedroom suites. The building has undergone significant capital improvements, including a new IBC boiler and dual hot water tanks, double glazed windows, updated breaker panels in all suites, new torch on layer on the roof and an 8-camera security system.
PROPERTY FACTS
| Price | $6,700,000 CAD | Building Class | B |
| Price Per Unit | $394,118 CAD | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 14,421 SF |
| Cap Rate | 4.02% | No. Stories | 3 |
| No. Units | 17 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 0.57/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RS-1 | ||
| Price | $6,700,000 CAD |
| Price Per Unit | $394,118 CAD |
| Sale Type | Investment |
| Cap Rate | 4.02% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 14,421 SF |
| No. Stories | 3 |
| Year Built | 1959 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | RS-1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 13 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (78)
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Maple Manor Apartments | 304 Third Ave
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