Condo
$399,900
30% under assessed306 48 Richmond Street
New Westminster17 days on market
MLS® R3168974
1 / 24
2 bed · 1 bath · 834 sq ft · 1 parking
Condo · Single Family · built 1985 · 46 days on market
Listed by Marie Taverna, Royal LePage West Real Estate Services
Realtor's description
INVESTORS or 1st TIME BUYERS ALERT...Discover this stunning top-floor 2 bed,1bath condo a truly turn-key opportunity. Inside you will fall in love with the beautifully updated kitchen featuring bright white cabinets/sleek countertops/crisp white appliances/perfectly accented grey tile backsplash. Large living room provides ample space for relaxing with sliding doors leading to a private balcony. The neutral palette throughout ensures an easy transition for your personal style. The functional 4-piece bath is also updated with new counters/lighting & a modern tile surround. The spacious primary bdrm easily accommodates king-size furniture while the 2nd bedroom is perfectly sized for a home office. Complete with easy-care mixed laminate & tile flooring/1 parking spot. Pet friendly!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 1
- Living area
- 834 sq ft
- Parking
- 1
- Year built
- 1985
- Property tax
- $2,097 / yr
- Strata fee
- $411 / mo ($0.49 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 46
- MLS®
- R3158816
Features
- Central location
- Cul-de-sac
- Elevator
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- Refrigerator
Monthly cost
$2,198/mo
Mortgage $1,612 · Tax $175 · Strata $411
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
- $2,134/mo
- After all costs
- −$270/mo
- Cap rate
- 4.4%
- yearly net rent ÷ price
Costs: mortgage $1,612 · tax $175 · strata $411 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 2-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
1.0 km away · 331 Richmond St, New Westminster · 604-517-6090
- Middle Ecole Glenbrook Middle Schoolhomes in this catchment
600 m away · 701 Park Cres, New Westminster · 604-517-5940
- Secondary New Westminster Secondaryhomes in this catchment
1.9 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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