329 Seventh Street, New Westminster

329 Seventh Street | New Westminster, BC

For Sale, Price Reduced

Information Package Contact Agents

Property Overview

NAI Apartments is pleased to offer the opportunity to acquire a 21-unit apartment building in New Westminster on Seventh Street, between Fourth Avenue and Blackford Street. The St. Michelle building is professionally managed and has undergone several renovations throughout recent years totaling over $300,000.

Investment Highlights and Building Upgrades

Full suite renovations
Exterior refurbishment and painting
Lobby renovation
Breaker panels in each suite
Energy efficient lighting throughout building common areas & suites
Landscaping
New appliances in renovated suites

Suite Renovations

St. Michelle has implemented its suite renovation program on 14 out of 21 suites (67% of total suites). The purchaser has an opportunity to renovate the balance of 7 suites.

Request the Data Room and Financials

The Suite Mix

	# of Units	Average Size
Studio	4
1-Bedroom	17
Total	21

The Key Details

Price	$5,680,000
Lot Size	12,956 SF
Year Built	1969
Property Taxes (2024)	$16,624
Zoning	RM-2
Parking	21 underground stalls
Financing	Assumable CMHC mortgage of approx. $2M at 4.14% interest, maturing June 1, 2028.
Sale Type	Asset or Share Sale. Property is held in a bare trust, offering potential property transfer tax savings.

Property on Map

More Featured Listings

2425 Alma Street, Vancouver

$3,900,000

More Details

1035 West 12th Ave

$3,575,000

More Details

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.