815 4th Ave
New Westminster, BC V3M 1S8
Norfolk House · Multifamily Property For Sale · 33 Units

RE/MAX Commercial Advantage Strata Assembly along with the Owners of NWS 286 are pleased to present the opportunity to purchase 100% interest in 815 Fourth Ave (the “Property), located mid-block on the North Side of Fourth Avenue, just south of Eighth Street. This 3 Story, wood-framed, 33-Unit Multifamily Strata Property was built in 1964. Residents enjoy easy walks to the Sky Train Station as well as Royal City Centre and Uptown Business District with numerous amenities. Subject property is currently RM-2 zoned and in the Downtown New Westminster portion of the Official Community Plan adopted October 2, 2017 it is called (RM) Medium-Density Multi-Family. The OCP is the guiding document that looks to blend Old and New construction in the former capital of British Columbia. Within the OCP bonus density and greater height is available if Community Amenity Contributions (CAC) are satisfied. A sample development “The Lotus” with same zoning can be seen on the same block as the property to the East. The project was built in 2015 and achieved the CAC contribution by refurbishing existing heritage designated houses which were sold to end users. The houses currently to the West of the property are designated heritage and could be included into The Property in the same way to achieve a maximum FSR of 1.8 and six stories.