Condo
$399,900
30% under assessed306 48 RICHMOND STREET
New Westminster16 days on market
MLS® R3168974
1 / 25
2 bed · 2 bath · 912 sq ft · 2 parking
Condo · Single Family · built 1992 · 39 days on market
Listed by Imran Alvi, First Stay Realty Inc.
Realtor's description
This TOP FLOOR CORNER large 02 BED 02 FULL Bath 02 secured parking unit is in excellent location at River valley condos. Practical floor plan with kitchen at the end of the unit & full balcony access. With its unique layout the unit FRESHlY Painted, give you the warm welcome. Owner has kept the uint is in excellent condition. Some of the unit updates are Kitchen Counter, Window Blinds, Shower door, Sink. Building has done lots of updated in last few year like Windows, Sliding door, Deck, Elevator, Roof. Proactive strata. Just 5 minutes from downtown New Westminster! short walk to Skytrain Station, close to transit. Pet Friendly and wheel chair access. 01 storage. Building also has Day Care unit & Low strata fee Book your showing!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 912 sq ft
- Parking
- 2
- Year built
- 1992
- Property tax
- $2,270 / yr
- Strata fee
- $469 / mo ($0.51 / sq ft)
- Strata rules
- Pets Allowed With Restrictions
- Days on market
- 39
- MLS®
- R3160259
Features
- Central location
- Elevator
- Wheelchair access
- Pets Allowed With Restrictions
- All
- Intercom
Monthly cost
$2,880/mo
Mortgage $2,221 · Tax $189 · Strata $469
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
- −$951/mo
- Cap rate
- 3.0%
- yearly net rent ÷ price
Costs: mortgage $2,221 · tax $189 · strata $469 · 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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