317 THIRD AVENUE
New Westminster, British Columbia
MLS® C8077829
$5,800,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- C8077829
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1925
1 / 4Listing 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.
Property summary
- MLS® number
- C8077829
- Property type
- Multi-family
- Square footage
- 21,619 sq ft
- Land size
- 23925 square feet
- Built in
- 1925
- Annual property taxes
- $44,694.00
- Days on market
- 139 days
Features & details
- Lot features
- Lane
What would this home cost you?
Based on the $5,800,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Team 3000 Realty Ltd., Surrey.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.