610 Blackford Street, New Westminster

610 Blackford Street | New Westminster, BC

610 Blackford Street Sold

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.

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The Suite Mix

# of Units Average Size
Jr 1-Bedroom6
1-Bedroom16
2-Bedroom7
Total29

The Key Details

Sold Price$7,770,000
Sold DateAugust 22, 2024
Lot Size17,820 SF
Year Built1968
Property Taxes (2023)$27,458
ZoningRM-2
Parking20 underground stalls and 9 rear surface parking stalls
FinancingAssumable CMHC mortgage of approx. $2.7M, at 4.14% interest, maturing June 1, 2028.
Sale TypeAsset or Share Sale. Property is held in a bare trust, offering potential property transfer tax savings.

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.

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