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!
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
