Condo
$399,900
30% under assessed306 48 RICHMOND STREET
New Westminster14 days on market
1 bd1 ba898 sq ft
MLS® R31689741 / 40
$389,000
305 466 E EIGHTH AVENUE
New Westminster · MLS® R3154735
1 bed · 1 bath · 642 sq ft · 1 parking
Condo · Single Family · built 1975 · 57 days on market
Listed by Tom Devlin, Hugh & McKinnon Realty Ltd.
Realtor's description
Welcome to your fully renovated condo at Park Villa! This beautifully updated home features brand-new appliances and stylish, modern finishes throughout, offering a move-in-ready living experience. Conveniently located just minutes from Braid SkyTrain Station in New Westminster, this centrally situated home provides easy access to shopping, Royal Columbian Hospital, Skwo:wech Elementary School, Hume Park, the New Westminster Quay Market, and many other everyday amenities. Whether you're a first-time buyer, downsizer, or investor, this exceptional location combines comfort, convenience, and connectivity. Poly-B currently being replaced in the building. Maintenance fee includes use of shared laundry facility. Some photos virtually staged. Quick Possession Possible.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 1
- Living area
- 642 sq ft
- Parking
- 1
- Year built
- 1975
- Property tax
- $1,674 / yr
- Strata fee
- $466 / mo ($0.73 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 57
- MLS®
- R3154735
Features
- Central location
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- Refrigerator
- Dishwasher
- Stove
Monthly cost
$2,300/mo
Mortgage $1,695 · Tax $140 · Strata $466
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
- $1,645/mo
- After all costs
- −$822/mo
- Cap rate
- 2.7%
- yearly net rent ÷ price
Costs: mortgage $1,695 · tax $140 · strata $466 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 1-bedroom 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 Skwo:wech Elementaryhomes in this catchment
600 m away · 331 Richmond St, New Westminster · 604-517-6090
- Middle Ecole Glenbrook Middle Schoolhomes in this catchment
1.6 km away · 701 Park Cres, New Westminster · 604-517-5940
- Secondary New Westminster Secondaryhomes in this catchment
3.0 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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