SOLD PRICE: $8,900,000
SOLD DATE: June 23, 2016
61 unit apartment building. Easy access to public transportation on 8th Street. Shopping is plentiful within a two minute walk to the Royal Centre Mall. Moody Park is just a few blocks away.
The subject property is located at 8th Street and 5th Avenue. This could be considered the heart of New Westminster. This location offers public transportation within steps of the building on 8th Street. Direct access to the downtown core of Vancouver and Burnaby is also via 8th Street. Shopping is plentiful within a two minute walk at the Royal Centre Mall. This is the large regional mall which services the majority of New Westminster’ s grocery and shopping needs. This mall has the stores and services required by any tenant encouraging an older clientele in the building due to its superb location.
Property Details | |
Number of Units | 61 |
Price Per Door | $140,983 |
Capitalization Rate | 3.84% |
Net Operating Income | $330,040 |
Lot Size | 165’ x 238’ = 39,222 slightly irregular with north to south slope offering view corridors |
Gross Floor Area | 49,918 square feet |
Net Rentable Area | 42,430 square feet |
Parking | 36 secured
7 covered 14 uncovered |
Suite Mix | |
Bachelor | 4 |
One Bedrooms | 47 |
Two Bedrooms (2 pc. Ensuite) | 7 |
Three Bedrooms (2 pc. Ensuite) | 3 |
Total | 61 |
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.
Taylor is a dedicated and results-oriented professional with a proven track record in real estate. In 2022, he seamlessly transitioned to the NAI Apartment team to elevate his expertise and contribute to the dynamic industry landscape. His passion for real estate is underscored by a keen focus on apartment buildings within the vibrant Greater Vancouver market. Taylor brings a sophisticated approach to investment analysis and market trends, leveraging his extensive knowledge of the local market.
Guided by a client-centric ethos, Taylor prioritizes building enduring relationships by delivering unparalleled service and optimal results. Through effective communication and a collaborative mindset, he consistently strives to surpass expectations while maintaining a professional and approachable demeanor.
Education & Affiliations
Jackson graduated from Simon Fraser University in 1986 with a Business Degree in Marketing and Finance (BBA). After graduation, Jackson was employed as a project coordinator with a small development company where he performed site evaluations and feasibility studies.
In 1987, Jackson left the development firm to begin his career as a commercial Realtor® with NAI Commercial’s (previously “Goddard & Smith International”) downtown Vancouver office and has since become a specialist in multi-family properties throughout the Lower Mainland. Over the course of his career, Jackson has sold over $1 billion investment properties.
Jackson is originally from Malaysia and he speaks Mandarin, Cantonese and Taiwanese as well as fluent English. His specialty in multi-family investment properties is focused to offshore buyers in the Asian market.
Significant Transactions
Terry has transacted over $3 billion multi-family properties over the course of his career and in 2016 he was awarded the “Top Real Estate Board of Greater Vancouver Commercial REALTOR® for Total Dollar Volume.” He was also the #1 Commercial Broker at NAI Commercial in Canada. Terry was educated in Ontario where he graduated with a diploma in Business from Sir Sanford Fleming College. Terry joined NAI Commercial’s Vancouver office in June of 1980 after a successful career with the commercial downtown office of Canada Permanent and has gained over 40 years of experience as a real estate specialist in multi-family investments. Terry has had the opportunity to work in NAI Commercial’s offices in London, England where he specialized in marketing North American Properties to European pension funds and institutions. He helped set up the international department for Goddard & Smiths London office and worked with senior partners to arrange their first international property auction in New York. Terry returned to Goddard & Smith in Vancouver at the end of 1986 and continues to specialize in multi-family investment projects.
Significant Transactions