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Norge Apartments & Emerald Court 2 Multifamily Properties Offered at $9,800,000 CAD in New Westminster, BC
INVESTMENT HIGHLIGHTS
- Natural light exposure
- Ample parking
- Access to public transit
- Heavy daytime foot traffic area
- Retail amenities nearby
- Access to highway
EXECUTIVE SUMMARY
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Norge Apartments and Emerald Court, a rarely-offered and primely located multifamily offering, in the heart of Downtown New Westminster. Originally constructed in 1962, these two 17-unit apartment buildings present investors with a unique opportunity to acquire a great cash-flowing asset, with minimal required capital expenditures and future high density redevelopment potential. With a total of 34 units, the buildings boast an attractive suite mix of 6-bachelors, 23-1 Bedrooms and 5-2 bedrooms, in addition to the potential to add two extra suites in Emerald Court. Situated in the northeast corner of the downtown core, the Property benefits from a quiet residential atmosphere, while being within immediate walking distance to endless amenities and transit options. The Property also exhibits charming curb appeal, dual 4th storey penthouse suites in each building, and a carefully manicured lawn, displaying a clear pride of ownership.
PROPERTY FACTS
| Price | $9,800,000 CAD | Number of Properties | 2 |
| Price / SF | $200.00 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 4.07% | Total Building Size | 49,000 SF |
| Sale Type | Investment | Total Land Area | 0.40 AC |
| Status | Active |
| Price | $9,800,000 CAD |
| Price / SF | $200.00 CAD / SF |
| Cap Rate | 4.07% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 49,000 SF |
| Total Land Area | 0.40 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
The Norge Apartment
201 Carnarvon St, New Westminster, BC V3L 1B7 |
Multifamily | 28,000 SF | 1962 | - |
|
Emerald Court
205 Carnarvon St, New Westminster, BC V3M 1E9 |
Multifamily | 21,000 SF | 1962 | - |
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Norge Apartments & Emerald Court
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