230 Eighth Street, New Westminster

230 Eighth Street | New Westminster, BC

Sold

SOLD $4,380,000

The Opportunity

230 Eighth Street presents an opportunity for investors to acquire a fully rented building in a desirable area of New Westminster.

Rosemont Manor is a desirable building for tenants with secured underground parking and balconies in each suite.

Highlights

Several Renovated Suites: upgrades to the kitchen, flooring, and bathrooms

Other Upgrades / Replacements: boiler (2011), hot water boiler & storage tank (2018), torch on roof (2007) and front stairwell windows 1st to 3rd floors (2018)

Prime Location Close to Various Amenities: Walking distance to SkyTrains, Douglas College and Royal City Centre Mall

Request the Data Room and Financials

The Suite Mix

	# of Units	Average Size
Bachelor	2	548 SF
1-Bedroom	15	717 SF
2-Bedroom	1	935 SF
Total	18	-

The Key Details

Sold Date	December 21, 2022
Sold Price	$4,380,000
Lot Size	11,072 SF
Year Built	1969
Property Taxes (2021)	$18,774
Zoning	RM-2
Financing	A mortgage of $1.8 million may be assumed at 2.7% interest. The Vendor will consider carrying a second mortgage of up to $1 million with the interest rate to be negotiated.
Cap Rate	3.4%
Parking	Secured underground parking

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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.