Corner Free Standing Investment Residential/Commercial Mixed use Building in New Westminster. Asking Price is Below Assessment Value!
This property is located at the intersection of Tenth St. and Eighth Ave. It is surrounded by high density residential area with large pedestrian exposure. The property crosses from Moody Park, outdoor pool, and Theatre, Skytrain, Schools, etc. are within walking distance.
The Lot size is 50 Ft. X 129 Ft., approx. 6,443 SF, with a 2-storey approx. 4,072 SF building. Ground level approx. 2,027 SF including 1 washroom, is leased to grocery business. Current gross monthly rent is $2,300 with 3 years term. Second level approx 2,000 SF for residential use, with 3 bedrooms + 1 den, 2 full bathrooms. Two separate meters, 4 parking stalls at rear plus 1 private garage.
The Seller is willing to rent back at $2,500 gross rent per month. Currently under NR-1 (Neighborhood Residential) zoning, permitted for Single Family Usage. Amazing chance to hold a mixed use property under current zone!
