Condo
$399,900
30% under assessed306 48 RICHMOND STREET
New Westminster14 days on market
1 bd1 ba898 sq ft
MLS® R31689741 / 34
$569,000
701 31 ELLIOT STREET
New Westminster · MLS® R3155498
2 bed · 2 bath · 990 sq ft · 2 parking
Condo · Single Family · built 1974 · 55 days on market
Listed by An Dong Pan, Royal Pacific Realty (Kingsway) Ltd.
Realtor's description
Welcome to Royal Albert Towers. This roomy 990sqft 2 bedroom, 2 full bathroom CORNER unit offers southwest VIEWS OF THE FRASER RIVER and city. Thoughtful updates throughout; all hard surface floors (no carpet), granite counter tops, stainless steel appliances, new fridge & light fixtures and fresh paint just to name a few. Plus plenty of closet space and IN SUITE LAUNDRY. 1 full height storage locker and parking for 2 cars in double wide parking stall included. 2 cats allowed, sorry. no dogs Monthly Strata fee of $641.31 covers; heat, hot water & city utility bill(water/sewer). The building has done many upgrades; enter phone 2022, parking membrane 2021, fencing 2021, windows 2016, balconies 2016, exterior painting 2016, repiping 2012, roof 2002.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 990 sq ft
- Parking
- 2
- Year built
- 1974
- Property tax
- $2,309 / yr
- Strata fee
- $749 / mo ($0.76 / sq ft)
- Strata rules
- Pets Allowed With Restrictions
- Days on market
- 55
- MLS®
- R3155498
Features
- Elevator
- Pets Allowed With Restrictions
- All
Floor plans
Found among the listing photos.
Monthly cost
$3,421/mo
Mortgage $2,479 · Tax $192 · Strata $749
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
- −$1,493/mo
- Cap rate
- 2.1%
- yearly net rent ÷ price
Costs: mortgage $2,479 · tax $192 · strata $749 · 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 Ecole Qayqayt Elementaryhomes in this catchment
200 m away · 85 Merivale St, New Westminster · 604-517-6050
- Middle Fraser River Middlehomes in this catchment
1.1 km away · 800 Queens Ave, New Westminster · 604-517-1800
- Secondary New Westminster Secondaryhomes in this catchment
2.3 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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