Norge Apartments & Emerald Court Multi-Family FOR SALE


New Westminster, BC
$9,800,000 USD
, New Westminster, BC for Sale
$9,800,000 USD
Multi-Family - FOR SALE
1/2
null | 4.07% Cap Rate

Norge Apartments & Emerald Court
New Westminster, BC


HIGHLIGHTS

  • Natural light exposure
  • Heavy daytime foot traffic area
  • Ample parking
  • Retail amenities nearby
  • Access to public transit
  • Access to highway

OVERVIEW

The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Norge Apartments and Emerald Court, a rarely-offered and primely located multifamily offering, in the heart of Downtown New Westminster. Originally constructed in 1962, these two 17-unit apartment buildings present investors with a unique opportunity to acquire a great cash-flowing asset, with minimal required capital expenditures and future high density redevelopment potential. With a total of 34 units, the buildings boast an attractive suite mix of 6-bachelors, 23-1 Bedrooms and 5-2 bedrooms, in addition to the potential to add two extra suites in Emerald Court. Situated in the northeast corner of the downtown core, the Property benefits from a quiet residential atmosphere, while being within immediate walking distance to endless amenities and transit options. The Property also exhibits charming curb appeal, dual 4th storey penthouse suites in each building, and a carefully manicured lawn, displaying a clear pride of ownership.

ASK ABOUT THIS PROPERTY

Sunil SuvarnaMarcus & MillichapMore Info

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Sunil SuvarnaMarcus & MillichapMore Info

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