84 unit high-rise multi-family building in uptown, new
TRANSCRIPT
621 Eighth Street, New Westminster, BC
84 Unit High-Rise Multi-Family Building in Uptown, New Westminster
604.728.2845 [email protected]
For Sale
The Firm Real Estate Services Ltd. www.fraserelliott.com
EIGHTH STREET
EIGHTH STREET
PRIN
CESS
STR
EET
PRIN
CESS
STR
EET
SUBJECT PROPERTY
OPPORTUNITY
84 unit, 15 storey concrete apartment building situated on 32,717 square feet (200’ x 160’) in Uptown, New Westminster. The subject property boasts 210 feet of frontage on Eighth St with a total livable floor area of approximately 61,870 square feet. There are 77 secured underground stalls in addition to 11 above ground visitor stalls at the rear. The net operating income is $670,000 per annum.
Address 621 Eighth Street, New WestminsterPID 003-442-861Zoning RM-4, Multiple Dwelling Districts (High Rise)OCP RH (RESIDENTIAL – High Rise) NCP Neighbourhood: UptownYear Built 1967Units 84Improvements One 15 storey concrete apartment building having a total livable floor area of approximately 61,870 SFElevators 2Storeys 15 Balconies 84Storage Lockers 96 Property Taxes $99,601.80NOI (2020) $670,000 per annum
SALIENT FACTS
UNIT MIX
Unit Type Total Average SF
Bachelor 13 445
One Bedroom 53 690-750
Two Bedroom 16 950-970
Penthouse 2 1,530 & 1,765
Total/Average 84 61,870 SF
604.728.2845 [email protected]
BUILDING FEATURES/UPGRADES
77 Secure Underground Parking Stalls 11 Above Ground Visitors Stalls
Capex: Recent Painting in Units
Laundry: 5 Washers and 5 dryers
2 Elevators
Capex: Boiler and water tanks replaced in 2012
604.728.2845 [email protected]
INVESTMENT HIGHLIGHTS
ATTRACTIVE Net operating income
205 FEET OF FRONTAGEon Eighth Street
32,717 SQUARE FEET200’ x 160’ Land Size
84 UNITSat Below Market Rents
FUTURE REDEVELOPMENT Potential
CONCRETE CONSTRUCTIONRental apartment building
87 WALK SCORE®
Very Walkable
604.728.2845 [email protected]
NEARBY AMENITIES1. Massey Theatre2. Moody Park3. Queens Park4. Columbia Skytrain Station5. Edmonds Skytrain Station6. Mercer Stadium Track7. Royal City Centre Shopping Mall8. Westminster Centre Shopping9. New West Tennis Club10. Douglas College11. Justice Institue12. Royal Square Mall13. Saint Thomas More Collegiate14. New Westminster City Hall
10Mins
6Mins
4Mins
22ND ST SKYTRAIN STATIONPublic Transit
22ND ST SKYTRAIN STATIONAutomobile
ROYAL CITY CENTRE MALL Walking
SUBJECT PROPERTY
1
8
9
10
1112
14
7
2
5
6
4
313
EIGHTH STREET
EIGHTH STREET
10TH AVENUE
10TH AVENUE
6TH AVENUE
6TH AVENUE
ROYAL AVENUE
ROYAL AVENUE
© 2020 The Firm Real Estate Services Ltd. All rights reserved.E. & O.E.: The information contained herein was obtained from sources that we deem reliable and, while thought to be correct, is not guaranteed by The Firm Real Estate Services Ltd. and/or; Fraser Elliott Real Estate Group.
604.728.2845 [email protected]