Property Overview

  • Status
    Sold
  • Address
    Edmond’s Kourt
    735 Royal Avenue
    New Westminster, BC
  • Neighbourhood
    Downtown New Westminster
  • # of Units
    37
  • Year Built
    1948
  • PID
    003-159-426
  • Lot Size
    20,554 SQFT
  • Zoning
    RM-2 – Low Density
  • Price
    $8,600,000
  • The Opportunity

    A tremendous opportunity to acquire 100% freehold interest in one of New Westminster’s most beautiful and character filled apartment buildings, “Edmond’s Kourt” located at 735 Royal Avenue in the vastly growing neighbourhood of Downtown New Westminster. The Property offers investors scale with a desirable mix of 37 (1 U/A) residential rental units situated on a large 20,554 sf corner lot with frontage on Royal Avenue and Ash Street. The offering presents investors with a high-quality, professionally managed multifamily asset with secure and stable cash flow in one of B.C.’s most significant growth markets.

    Investment Highlights

    • Irreplaceable location, near skytrain station, in a highly sought after and rapidly growing and emerging community
    • Situated on an approximately 20,554 sf corner lot, lending outstanding south views of the Fraser River
    • Outstanding curb appeal highlighted by tudor style construction showing exceptional character throughout
    • Professionally managed and maintained to a very high standard attracting high caliber tenants which supports higher per unit rents
    • Strong income in place, which lends a current cap rate of 3.73% with significant proven rental revenue upside to be achieved upon tenant turn over
    • Tenants are drawn to the exceptional walk score (95/100)
    • 100% occupancy in a very low vacancy rate market (0.2%, CMHC Fall 2016) provides investors with secure and stable cash flow

    Central Downtown New Westminster Location

    • Strategically located on the southwest corner of Royal Avenue and Ash Street in Downtown New Westminster
    • Directly across the street from Douglas College
    • Three (3) blocks from the New Westminster Skytrain Station
    • Walking distance to an abundance of restaurants, shops, services, and amenities within the Downtown core
    • Five (5) minute drive east to the Royal Columbian Hospital via East Columbia Street
    • Seven (7) minute drive east to Highway 1 along Brunette Avenue
    David Venance
    Executive Vice President

    David Venance

    Property Location