317 Third AVE, New Westminster, BC V3L 1M5
See all 4 photos
317 Third AVE, New Westminster, BC V3L 1M5
317 Third AVE, New Westminster, BC V3L 1M5
317 Third AVE, New Westminster, BC V3L 1M5
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Mike Buburuz

Mike Buburuz

+1(250) 262-6453
-
Est. payment /mo
Save
Active

317 Third AVE New Westminster, BC V3L 1M5

0.55 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type Asset

MLS Listing ID C8077829

Year Built 1925

Annual Tax Amount $44,694

Tax Year 2025

Lot Size 0.550 Acres

Property Sub-Type Multi Family

Property Description

Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside potential. The property generates approximately $37,300 per month with a 5.53% cap rate and clear opportunity for growth as rents are brought toward market levels, with increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedroom units, 1 two-bedroom unit, and 4 bachelor units, with all tenancies on a month-to-month basis and consistently low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery and is expected to significantly reduce heating expenses, enhancing overall operating efficiency. Features include hardwood flooring, a central courtyard, on-site laundry, storage, and 13 enclosed garages.

Location

State BC

Community Queens Park

Area New Westminster

Zoning RS-4

Interior

Heating Hot Water

Appliance Common Water Heater

Exterior

Utilities Available Cable Connected, Curb/Gutter, Electricity Connected, Garbage Collection, Natural Gas Connected, Phone Connected, Street Lighting, Sidewalk

Water Access Desc Public

Roof Type Torch On

Street Surface Paved

Total Parking Spaces 13

Building

Story 3

Sewer Public Sewer, Sanitary Sewer, Storm Sewer

Water Public

Others

Restrictions None Known

Ownership Freehold

Security Features Secured Garage/Parking,Secured Yard

Mike Buburuz

Mike Buburuz

Agent

+1(250) 262-6453

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Mike Buburuz, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

317 Third AVE

Free Account Required

  • Instant access to listing photos & details
  • Save listings and searches
  • Access details for this property