1222 Fifth Avenue, New Westminster

1222 Fifth Avenue, New Westminster

Contact agents for price - Sold

Sold on May 1, 2018
21 Units ($330,952 per unit)
Sold for $6,950,000


The apartment building resides on a quiet street in the northeast corner of Fifth Avenue and Thirteenth Street. The neighbourhood is rapidly evolving with new development being constructed. Shopping is available in Columbia Square or along 12th Avenue. Bus transit is only a block away. Built in 1977 and completely renovated last year.

Building Description

Enjoy a turnkey apartment building that has been completely rebuilt from the studs up. All suites have electric heating keeping utility costs minimal. Everything has been reconstructed or changed with many effective warranties on the work. Many suites have views of the Fraser River. All units have balconies. The property has underground parking and an elevator.
The following is a list of improvements:

  • New windows
  • New vinyl flooring
  • New kitchens
  • In-suite washer/dryer for 18 units
  • Renovated lobby
  • Complete replumb
  • New appliances

Property Details
Number of units 21
Stabilized net operating income $289,814
Capitalization rate 4.0%
Price per unit $361,905
Lot size 13,720 square feet
Zoning RM-2
Parking 21 secured underground

Suite Mix
One-Bedroom 16 units
Two-Bedroom 5 units
Total 21 units

Property on Map

No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied.