423 Sixth Street offers the opportunity to acquire a three-storey multi-family revenue property in the heart of New Westminster. The property generates over $200,000 in annual gross income and is designated for future higher-density redevelopment. Built in 1890, the home sits on a 9,801 sq. ft. lot (zoned C-2) and features five self-contained authorized suites on the upper floors plus a basement. The property contains five parking stalls for tenants as well as two garage units that are currently rented out as storage. The property is designated Mixed Use – Low Rise under the New Westminster Official Community Plan (OCP), which allows for the construction of a medium density mixed-use building.
General Info
Property Metrics
Additional Details
Heating & Cooling
Utilities
Parking
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Property History
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Rooms
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Bathrooms
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Main Level | No | #3 |
Main Level | No | #3 |
Main Level | No | #3 |
Above Level | No | #3 |
Above Level | No | #3 |
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Greater Vancouver REALTORS® which assumes no responsibility for its accuracy.
Public Schools
Information includes BC Government Open License data; school details change often and are offered solely as general guidance.
Private Schools
Closest Transit
Imagine yourself strolling through the charming neighbourhood of 423 Sixth Street in New Westminster, BC. As a trusted realtor, I'm excited to share with you the unique characteristics of this community and how they'll make your life easier and more enjoyable.
First, let's talk about the schools. Herbert Spencer Elementary School, located just 0.7 km from 423 Sixth Street, has a rating of 6.6/10. While it may not be the highest rated, it's still a great option for families. For those seeking independent education, Urban Academy is just 0.81 km away, boasting a stellar rating of 8.9/10. And for secondary education, Vancouver International College is even closer, with a rating of no rating but still an excellent option for those in the area.
Now, let's discuss crime rates. According to the latest statistics from Statistics Canada (2020), this neighbourhood experiences an average crime rate of 6,761.11 incidents per 100,000 population. While this may seem concerning, it's essential to note that it's actually below the national average. The year-over-year change in crime rates is a notable -10.42%, indicating a downward trend.
But what about specific types of crime? The drug crime rate is below average, with an illegal substances offences rating of 134.4. This is a reassuring aspect of living in this neighbourhood. Property crimes, however, are average, with a property misconduct rating of 3,807.97. This is something to be aware of, but it's not uncommon in urban areas.
Now, let's shift our focus to demographics. This neighbourhood is home to a diverse population, with 28.7% of residents holding a university certificate or degree – that's above average in comparison to other BC neighbourhoods. On the other hand, 12.3% of the population has no certificate or degree, which is lower than the average in BC.
In terms of income, the median household income near 423 Sixth Street is $45,483, which is lower than the British Columbia average. Meanwhile, the median personal income is $31,118, also below average. However, the percentage of households with a mortgage is 63.6%, which is above average.
Moving on to transportation, the closest bus station is Southbound 6th St @ 5th Ave, just 0.07 km away from 423 Sixth Street. This makes it an ideal location for those who rely on public transportation. Unemployment rates in the area are average, at 8.5%, which is comparable to other provinces.
Population growth in this area is above average, with a 5.7% increase between 2011 and 2016. The population density per square kilometre is 8,552, which is high. Family dynamics are also of interest, with an average family size of 2.6, which is lower than the regional average. The percentage of married or living common law couples is 43.4%, which is also lower than average.
Lastly, let's discuss housing. The average value of dwellings in this neighbourhood is $565,573, which is above average compared to other areas in British Columbia. Owner payments are also above average, with an average of $1,421 per month. Renters, on the other hand, pay an average of $891 per month, which is below average.
In summary, 423 Sixth Street in New Westminster, BC (MLS® R3039783) offers a unique blend of education options, crime rates, demographics, and housing opportunities. While it may not be perfect, it's an excellent choice for those seeking a diverse and affordable community with easy access to public transportation. As your trusted realtor, I'm confident that this neighbourhood will meet your needs and exceed your expectations.
(MLS® R3039783)
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