454 ROUSSEAU STREET, New Westminster
$1,590,000
This 5,108 sqft property in New Westminster is a detached single-family home on a lot the new rules make suitable for a multiplex. New Westminster follows the provincial small-scale housing rules, so most single-family lots allow three to four homes, and up to six near frequent transit. Heritage character adds a design step on some streets.
Rare income + future development opportunity in rapidly evolving Sapperton. Located steps from Braid SkyTrain, 454 Rousseau St features a renovated character home with three self-contained 2-bed suites plus a leased garage. One 2-bed is currently rented at $2,100/month and the garage at $1,000/month, with two additional 2-bed suites offering potential rents of up to $2,100/month each (approx. $7,100+/month total). Situated on a 5,108 sq.ft. lot and zoned CS-1 within a Tier 3 Transit-Oriented Development corridor, buyers may explore rezoning with the City to unlock higher density (up to 3.0 FSR / ~8 storeys), subject to approval. A strong cash flow + future upside opportunity. 448 Rousseau St. also available as package.
How this price compares
This lot asks $311 per square foot of lot. That is 31% above the median of $238 across the 111 active lots VanPlex is showing in New Westminster, and puts it 97 of 111 from cheapest to most expensive. Asking prices only, taken from the current MLS® feed.
Land price per square foot is only one input. Frontage, lane access, slope, and how many homes the zoning actually allows decide what a lot is worth to a builder.
Lot and property details
- Price
- $1,590,000
- Lot size
- 5,108 sqft
- Lot dimensions
- 45.21 x 113
- Frontage
- 45.21 ft
- Bedrooms
- 6
- Bathrooms
- 3
- Year built
- 1948
- MLS® area
- Sapperton
- MLS® number
- R3109448
Want the PlexScore and return on equity for this lot? Get PlexPro.
Listing data via MLS®. Displayed for information only.