Condo
$399,900
30% under assessed306 48 RICHMOND STREET
New Westminster16 days on market
MLS® R3168974
1 / 27
2 bed · 2 bath · 906 sq ft · 2 parking
Condo · Single Family · built 1992 · 25 days on market
Listed by Pietro Nardone, Sutton Group-West Coast Realty
Realtor's description
A GREAT Opportunity for FIRST-TIME HOME BUYERS or INVESTORS! Excellent LAYOUT with over 900 Square Feet of LIVING SPACE, featuring 2 BEDROOMS, 2 BATHROOMS, a Spacious KITCHEN, Good-Sized BEDROOMS, Large LIVING ROOM, In-Suite LAUNDRY, 2 PARKING STALLS, Storage LOCKER and MORE. SUPERB Central Location in a WALKABLE Neighbourhood, close to River Market, New West QUAY, Restaurants, Shopping, Schools and SkyTrain. Currently VACANT and WAITING for Your DECORATING Ideas. PRICED TO SELL - Make this Your HOME!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 906 sq ft
- Parking
- 2
- Year built
- 1992
- Property tax
- $2,326 / yr
- Strata fee
- $499 / mo ($0.55 / sq ft)
- Strata rules
- Pets not Allowed
- Days on market
- 25
- MLS®
- R3165071
Features
- Central location
- Elevator
- Pets not Allowed
- All
Monthly cost
$2,871/mo
Mortgage $2,178 · Tax $194 · Strata $499
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
- −$943/mo
- Cap rate
- 3.0%
- yearly net rent ÷ price
Costs: mortgage $2,178 · tax $194 · strata $499 · 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 Lord Tweedsmuir Elementaryhomes in this catchment
900 m away · 1714 Eighth Ave, New Westminster · 604-517-6070
- Middle Fraser River Middlehomes in this catchment
1000 m away · 800 Queens Ave, New Westminster · 604-517-1800
- Secondary New Westminster Secondaryhomes in this catchment
1.4 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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