Condo
$399,900
30% under assessed306 48 RICHMOND STREET
New Westminster14 days on market
1 bd1 ba898 sq ft
MLS® R31689741 / 8
$336,000
112 515 ELEVENTH STREET
New Westminster · MLS® R3140552
1 bath · 422 sq ft · 1 parking
Condo · Single Family · built 1974 · 103 days on market
Listed by Chi S(Tommy) Ng, Macdonald Realty Westmar
Realtor's description
Uptown in heart of New Westminster. Renovated studio condo at Magnolia Manor with in suite laundry, enclosed balcony, parking and storage locker! Laminated flooring with updated appliances, kitchen and bathroom. Functional layout with no wastage. Has gym, bike storage, sauna and games room. Hot water heat & hot water are included in monthly fee. Walk to uptown shops - Royal City Mall, Walmart, Douglas College, Library, schools, Moody Park.
Property details
- Type
- Condo, Single Family
- Bathrooms
- 1
- Living area
- 422 sq ft
- Parking
- 1
- Year built
- 1974
- Property tax
- $1,257 / yr
- Strata fee
- $370 / mo ($0.88 / sq ft)
- Days on market
- 103
- MLS®
- R3140552
Features
- Central location
- Elevator
- All
Monthly cost
$1,939/mo
Mortgage $1,464 · Tax $105 · Strata $370
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
If you rented it out
- Rent
- $1,531/mo
- After all costs
- −$565/mo
- Cap rate
- 3.2%
- yearly net rent ÷ price
Costs: mortgage $1,464 · tax $105 · strata $370 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a studio in New Westminster (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.
BC rules for landlords
- Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
- Rent increases are capped once a year at the province's set amount. gov.bc.ca
- The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
- Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca
Location
New WestminsterGoogle Maps ↗
Schools
Catchment schools, New Westminster School District 40
- Elementary Lord Kelvin Elementaryhomes in this catchment
400 m away · 1010 Hamilton St, New Westminster · 604-517-6060
- Middle Fraser River Middlehomes in this catchment
900 m away · 800 Queens Ave, New Westminster · 604-517-1800
- Secondary New Westminster Secondaryhomes in this catchment
1.0 km away · 820 6th St, New Westminster · 604-517-6122
From the New Westminster School District 40's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.
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