Apartment, SOLD

New Westminster Apartment Portfolio Sells for $18 Million

Mainstreet Equity Corp. has acquired a two-building apartment portfolio on St. Andrews Street in New Westminster’s Brow of the Hill neighbourhood. The sale closed in early October 2026 at $18,000,000, or $197,802 per unit across 91 suites.

The portfolio is made up of Twin Hollies at 1010 St. Andrews Street and St. Andrews Manor at 1025 St. Andrews Street. They sit on opposite sides of the street between 10th and 11th Avenues, within walking distance of Moody Park and the Uptown District. Downtown New Westminster and the SkyTrain stations are less than 1 km away.

Twin Hollies is a 43-suite, three-storey wood-frame building from 1968. It has an elevator, 33 surface stalls, and 42 storage lockers. Recent upgrades include a new roof and boilers in 2025 and new front doors in 2026. St. Andrews Manor is a 48-suite, 1969 wood-frame building with an elevator, 43 parking stalls, and 47 lockers. Both buildings are zoned RM-2.

Goodman Commercial marketed the properties, which were offered either individually or as a package. Their combined asking price was roughly $21.2 million, so the portfolio traded about 15% below ask.

The sale shows institutional buyers are still active in older low-rise rental buildings in the Fraser Valley and outer Metro Vancouver. Pricing of about $198,000 per unit is well below Burnaby and the North Shore, where comparable deals trade at much higher per-unit values.

Pricing details

Portfolio