318 408 East Columbia, New Westminster

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$3,490

318 408 East Columbia

Sapperton, New Westminster, BC, V3L 1B1

3 | 2 | 987 sq.ft. |

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Property Info

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MLS®: R3069202

Listing Courtesy of Plan A Real Estate Services

Total Bedrooms 3

Total Bathrooms 2

Floor Space 987 sq.ft.

Date Listed XXXX-XX-XX

Property Type Condo

Listed Price $3,490

Strata Fee $0.00

Interior Features

More Details

Floor Space Finished 0.00 sq.ft.

Rules Yes, Cats OK, Dogs OK

Summary

Location and General Information

MLS Area Major: New Westminster
Street Name: East Columbia
City: New Westminster
State Or Province: BC
Postal Code: V3L 1B1
Property Type: Residential Lease
Property Sub Type: Apartment/Condo

Interior and Exterior Features

Interior Features

Interior Features: Elevator

Exterior Features

Property

Utilities

Property and Assessments

Building Area Total: 987
Living Area: 987

Lot Information

Sold History

MAP & Nearby Facilities

Map

Street

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City Introduction

Overview of New Westminster, BC, Canada

Population

New Westminster is a historic city in the Greater Vancouver region of British Columbia, with a population of approximately 71,000 (2016). The population density is 4,543.4 people per square kilometer. New Westminster is a multicultural city, with about 34,275 residents belonging to visible minorities, including a significant Chinese community. The city's annual population growth rate is 7.6%, higher than the national average.

Economy

Key Industries: Transportation, healthcare, and port logistics. New Westminster's top employers include TransLink, Royal Columbia Hospital, and Port Metro Vancouver, providing stable job opportunities.
Commercial Centers: Columbia Street and Uptown are the main commercial areas, offering a variety of retail shops and dining options.
Educational Resources: New Westminster is home to Douglas College and the Justice Institute of British Columbia, contributing to a skilled workforce and innovation.

Living Features

Natural Environment: New Westminster boasts abundant natural landscapes, including Queen's Park and the Fraser River waterfront trails, ideal for outdoor activities.
Transportation: New Westminster is well-connected to downtown Vancouver via SkyTrain and bus systems, with a commute time of about 30 minutes.
Multiculturalism: The city's diverse communities and cultural events make it an inclusive and vibrant place to live.

Real Estate Investment

Prices: New Westminster's housing prices are relatively moderate compared to Vancouver, with detached homes averaging $1.2 million CAD and condos around $600,000 CAD (2024).

Opportunities:

Stable rental market: New Westminster's universities and job opportunities attract a steady stream of renters, ensuring high rental yields.
Long-term growth potential: Proximity to downtown Vancouver and ongoing infrastructure projects support sustained property value growth.

Risks:

Foreign buyer taxes (20%) and vacancy taxes may increase investment costs.
Rapid price increases in some areas require careful timing for investments.

Verdict

New Westminster is ideal for those seeking a high quality of life and long-term investment. Popular residential areas include Downtown and Uptown, while properties near SkyTrain stations are attractive for investors.

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