Multifamily
Cypress Steps
425 12th St, New Westminster, BC V3M 4H7
Listing Price: $12,000,000
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Cypress Steps, a rarely-offered, stratified apartment building in the heart of New Westminster.
Originally constructed in 1999, Cypress Steps presents investors with a unique opportunity to acquire a condo-quality investment property of scale, comprised of a total of 34 units, and boasting an attractive suite mix of 22-1 bedrooms and 12-2 bedrooms. All suites offer a full appliance package including dishwasher and in-suite laundry along with open concept layouts, gas fireplaces and electric baseboard heating.
Situated in the quiet and quaint neighbourhood of Kelvin, the Property is just a short walk to Moody Park and tenants enjoy immediate access to 6th Avenue and Stewardson Way, allowing easy connectivity to neighbouring municipalities.
The Property also enjoys charming curb appeal, with a red brick entryway, accented by stone pillars and a carefully manicured lawn, displaying a clear pride of ownership.
Cypress Steps
Investment Highlights
- 34 strata-titled units with a strong suite mix. All suites feature a full appliance package with dishwashers and in-suite laundry, gas fireplaces, individual hot water tanks, breaker panels, double-gl
- There are two levels of secured underground parking with a total of 44 parking stalls. The building also features elevator service and a full security system with 15 cameras throughout the property.
- There are two levels of secured underground parking with a total of 44 parking stalls. The building also features elevator service and a full security system with 15 cameras throughout the property.
- Rents are well below market at $2.14 per square foot and offer a tremendous lift in revenue on turnover. The condo-quality suites are rarely available in an apartment building.
Exclusively Listed By
Listing Price: $12,000,000
Investment Highlights
- 34 strata-titled units with a strong suite mix. All suites feature a full appliance package with dishwashers and in-suite laundry, gas fireplaces, individual hot water tanks, breaker panels, double-gl
- There are two levels of secured underground parking with a total of 44 parking stalls. The building also features elevator service and a full security system with 15 cameras throughout the property.
- There are two levels of secured underground parking with a total of 44 parking stalls. The building also features elevator service and a full security system with 15 cameras throughout the property.
- Rents are well below market at $2.14 per square foot and offer a tremendous lift in revenue on turnover. The condo-quality suites are rarely available in an apartment building.
Investment Overview
The McEvay Blair Multifamily Group of Marcus & Millichap is pleased to present the opportunity to acquire Cypress Steps, a rarely-offered, stratified apartment building in the heart of New Westminster. Originally constructed in 1999, Cypress Steps presents investors with a unique opportunity to acquire a condo-quality investment property of scale, comprised of a total of 34 units, and boasting an attractive suite mix of 22-1 bedrooms and 12-2 bedrooms. All suites offer a full appliance package including dishwasher and in-suite laundry along with open concept layouts, gas fireplaces and electric baseboard heating. Situated in the quiet and quaint neighbourhood of Kelvin, the Property is just a short walk to Moody Park and tenants enjoy immediate access to 6th Avenue and Stewardson Way, allowing easy connectivity to neighbouring municipalities. The Property also enjoys charming curb appeal, with a red brick entryway, accented by stone pillars and a carefully manicured lawn, displaying a clear pride of ownership.
Exclusively Listed By
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