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304 Third Ave
New Westminster, BC V3L 1M3
Maple Manor Apartments · Multifamily Property For Sale
·
17 Units
Investment Highlights
- All suites have been fully renovated to a condo-quality finish, all with in-suite dishwashers and laundry, and fully renovated kitchens and bathrooms.
- Situated in the quiet and quaint neighbourhood of Queen’s Park, the Property benefits from immediate access to the park’s numerous outdoor amenities.
- The building has undergone significant capital improvements, including a new IBC boiler and dual hot water tanks.
- Property held in a bare trust allowing for significant property transfer tax savings.
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 Per Unit | $394,118 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 4.02% | Building Size | 14,421 SF |
| No. Units | 17 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Zoning | RS-1 | ||
| 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 | - | - |
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