610 Blackford Street, New Westminster

610 Blackford Street | New Westminster, BC

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SOLD $7,770,000

Property Overview

NAI Apartments is pleased to offer the opportunity to acquire a 29-unit apartment building in New Westminster on Blackford Street, between Sixth and Seventh Streets. The building is professionally managed and has undergone several renovations throughout recent years. Over $500,000 has been spent on building improvements to Key Manor.

Investment Highlights and Building Upgrades

Replace Mansard Roofing* (January 2020)
*Photos show old roof
Exterior painting
Over 60% of suites renovated with new appliances
Common area upgrades with new flooring, paint, and lighting
Upgraded boiler and hot water tank

Suite Renovations

Key Manor has implemented its suite renovation program on 18 out of 29 suites (62% of total suites). The purchaser has an opportunity to renovate the balance of 11 suites.

Request the Data Room and Financials

The Suite Mix

	# of Units	Average Size
Jr 1-Bedroom	6
1-Bedroom	16
2-Bedroom	7
Total	29

The Key Details

Sold Price	$7,770,000
Sold Date	August 22, 2024
Lot Size	17,820 SF
Year Built	1968
Property Taxes (2023)	$27,458
Zoning	RM-2
Parking	20 underground stalls and 9 rear surface parking stalls
Financing	Assumable CMHC mortgage of approx. $2.7M, 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

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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.