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Birchwood Manor 517 Tenth St 32 Unit Apartment Building $7,500,000 CAD ($234,375 CAD/Unit) 3.69% Cap Rate New Westminster, BC V3M 3Z4
Investment Highlights
- New Westminster’s location is the geographic centre of Metro Vancouver and is adjacent to four distinct municipalities.
- Healthy mix of bachelor, one, two, and three bedroom units ensures enduring rental demand across a wide-range of high-quality tenants.
- Exceptional yield growth potential evidenced by the 105% mark-to-market rental upside.
- Offered at an investment value which is well below the current improvement’s replacement cost.
Executive Summary
Cushman & Wakefield ULC is pleased to present to the value-add investment market on an exclusive basis on behalf of the Vendor, a 100% freehold interest in 517 Tenth Street, New Westminster, BC (the “Property”). More commonly referred to as Birchwood Manor, the four-storey wood-frame building is comprised of 2 bachelor, 12 one-bedroom, 17 two-bedroom, and 1 three-bedroom unit for a total of 32 residential suites. Suite sizes at the property average approximately 761 square feet with a total net rentable area of 24,349 square feet. The 23,513 square foot lot is located steps away from Moody Park and retail amenities in Royal City Centre mall.
Property Facts
| Price | $7,500,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $234,375 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.55 AC |
| Cap Rate | 3.69% | Building Size | 36,683 SF |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment |
| Price | $7,500,000 CAD |
| Price Per Unit | $234,375 CAD |
| Sale Type | Investment |
| Cap Rate | 3.69% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 36,683 SF |
| No. Stories | 3 |
| Year Built | 1965 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 32 | - | - |
1 1
Walk Score®
Walker's Paradise (93)
Contacts
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David Venance -
Sean Ungemach -
Patrick Hannah -
Chris Harper -
Alex Priatel -
Cushman & Wakefield
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Birchwood Manor | 517 Tenth St
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