Carlton Court is a well-maintained 26-suite apartment building in the highly sought-after Queen's Park neighbourhood of New Westminster. Built in 1925, this heritage property offers strong in-place income with significant upside. The property generates approximately $37,300/month ($448,000 annually) with a forward NOI of $320,717, representing a 5.53% cap rate. Income is expected to increase as rents are brought toward market levels, with a portion of increases already implemented effective June 1, 2026. The suite mix includes 21 one-bedrooms, 1 two-bedroom, and 4 bachelor units, with all tenancies month-to-month and low vacancy. A new boiler system (2025) qualifies for RTB-approved rent recovery. Features include heritage character, hardwood flooring, courtyard, on-site laundry, storage, and 13 enclosed garages. (id:58554)