Multifamily
228 Manitoba St
228 Manitoba St, New Westminster, BC V3L 1J2
Listing Price: $2,650,000
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present 228 Manitoba, a desirable family-owned apartment building in one of Western Canada’s best rental markets. Consisting of 9 bright and spacious suites (6-1 bedrooms and 3-2 bedrooms) that have been renovated with new kitchens and bathrooms, this building boasts a tremendous location right next to Tipperary Park with a 15 minute walk to both Queen’s Park and the Columbia Skytrain Station in downtown New Westminster.
The property has recently been improved with a new hot water tank, double-glazed windows, and an upgraded lobby and common areas with new carpet, paint, and lighting. There is a substantial amount of storage throughout lending to the potential to add an additional unit for further revenue.
There is favourable financing available consisting of an assumable CMHC loan with People’s Trust with a current balance of ~$1,226,000, a 10-year term (due 2031), 30 year amortization, and a 2.41% interest rate.
228 Manitoba St
Investment Highlights
- Large spacious suites all with refinished hardwood flooring, renovated kitchens and bathrooms, new lighting, and breaker panels.
- Assumable CMHC financing with a balance of ~$1,226,000 and interest rate of 2.41%.
- Recent capital expenditures include hot water tank (2020), double-glazed windows (2016), breaker panels, upgraded lobby and common areas with new carpet, lighting, and paint.
- Excellent location on a quiet street right next to Tipperary Park and within walking distance to Queen's Park and the Columbia Skytrain Station in Downtown New Westminster.
- 14 storage lockers, coin-operated laundry, and surface parking available to tenants.
- Lots of additional storage room with potential to add an additional suite.
Exclusively Listed By
Listing Price: $2,650,000
Investment Highlights
- Large spacious suites all with refinished hardwood flooring, renovated kitchens and bathrooms, new lighting, and breaker panels.
- Assumable CMHC financing with a balance of ~$1,226,000 and interest rate of 2.41%.
- Recent capital expenditures include hot water tank (2020), double-glazed windows (2016), breaker panels, upgraded lobby and common areas with new carpet, lighting, and paint.
- Excellent location on a quiet street right next to Tipperary Park and within walking distance to Queen's Park and the Columbia Skytrain Station in Downtown New Westminster.
- 14 storage lockers, coin-operated laundry, and surface parking available to tenants.
- Lots of additional storage room with potential to add an additional suite.
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present 228 Manitoba, a desirable family-owned apartment building in one of Western Canada’s best rental markets. Consisting of 9 bright and spacious suites (6-1 bedrooms and 3-2 bedrooms) that have been renovated with new kitchens and bathrooms, this building boasts a tremendous location right next to Tipperary Park with a 15 minute walk to both Queen’s Park and the Columbia Skytrain Station in downtown New Westminster. The property has recently been improved with a new hot water tank, double-glazed windows, and an upgraded lobby and common areas with new carpet, paint, and lighting. There is a substantial amount of storage throughout lending to the potential to add an additional unit for further revenue. There is favourable financing available consisting of an assumable CMHC loan with People’s Trust with a current balance of ~$1,226,000, a 10-year term (due 2031), 30 year amortization, and a 2.41% interest rate.
Exclusively Listed By
