621 Twelfth Street, New Westminster

621 Twelfth Street, New Westminster

$6,200,000 - Sold

Sold on October 23, 2018
18 units ($344,444 per unit)
Sold for $6,200,000

The Building

Arva Ann has had a complete retrofit. The property has seen extensive exterior improvements to the balconies, windows, siding, lobby, and parkade uplifting this into condo quality rentals. Every unit has new kitchens, flooring, bathrooms, fixtures and more to compliment the improved curb appeal. A brand-new technologically advanced X boiler services the building’s heat. Everything has been meticulously planned and organized to maximize space, efficiency and usability within the units to create the ultimate living experience for tenants.

The Location

The subject property is situated at the northwest corner of Nanaimo Street and Twelfth Street walking distance to grocery stores, restaurants, cafés and more. Right outside the building is a bus stop with direct route to Edmonds SkyTrain Station. Nearby parks include Moody Park, Mary Ave Park and Simcoe Park.

Property Details
Number of Units 18
Net Operating Income $313,937
Cap Rate 4.9%
Lot Size 7,008 SF
Zoning C-2A
Parking 7 spaces
Property Taxes (2017) $14,127

Suite Mix
Bachelor 2
One-Bedroom 5
Two-Bedroom 9
Three-Bedroom 2
Total 18

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.