Multi Family

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19855 54 Avenue
Langley City Langley V3A 3W1

$4,680,000
Multi-Family Commercial

Main Photo: 19855 54 Avenue in Langley: Langley City Multi-Family Commercial for sale : MLS®# C8051585
Photo 1: 19855 54 Avenue in Langley: Langley City Multi-Family Commercial for sale : MLS®# C8051585
Photo 2: 19855 54 Avenue in Langley: Langley City Multi-Family Commercial for sale : MLS®# C8051585
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
C8051585
Build. Type:
Multiple Tenant/Multi-Plex (5+)
Excellent developmetnt property! This free standing 7 units townhouse development complex with gross building area approx. 10,900 s.f. on 22,225 s.f. (0.51 acres) in land size!!! The property is zoned RM-1 now and the City of Langley's OCP is designated this property for High Density Residential maximum to 2.1 FSR which allow for up to build up to 46,653 sqf residential strata!!! Many updates included laminate floor, carpet, hot water tank, interior paint, bathroom, washer/dryer, furnace, etc. Gross rental income allow the future owner to grow the income during the development permitting process. This offering presents many possibility in a rapidly growing and supply constrained market that is experiencing robust growth due in part to the SkyTrain extension. This land can be used as single development lot or join with other two neigour properties as a larger development lot, Or holding for skytrain coming in great opportunity
Sale Type:
Asset or Share
Construction:
Wood Frame
Building Type:
Multiple Tenant/Multi-Plex (5+)
Name of Complex/Subdivision:
# Units:
0
# Other Units:
# of Appartments:
7
# of Studio Appartments:
0
# of Penthouse Appartments:
0
# of Bachelor Appartments:
0
# of 4+ Bedroom Appartments:
0
# of 1 Bedroom Appartments:
0
# of 2 Bedroom Appartments:
6
# of 3 Bedroom Appartments:
1
# Storeys:
2.0
Year built:
1972 (Age: 52)
Total Floor Area:
10,900 sq. ft.
Lot Area:
22,225 sq. ft.
Land Use/Zoning:
RM-1
Permitted Use:
Multifamily (5+), Residential
Taxes:
$6,630.73 / 2022
Water Supply:
Municipal
Roof:
Sewer Septic:
Municipal/Community
Potential to Redevelop:
Yes
Env Assmt Phase:
Not Applicable
Cap Rate %:
Other Income:
Effective Gross Income:
Gross Income:
Oper. Expenses:
Net Operating Income:
Tot Gross Sales:
Condo Fee:
Previous Price:
Original Price:
  • Photo 1: 19855 54 Avenue in Langley: Langley City Multi-Family Commercial for sale : MLS®# C8051585
    Photo 1 of 2
  • Photo 2: 19855 54 Avenue in Langley: Langley City Multi-Family Commercial for sale : MLS®# C8051585
    Photo 2 of 2
Listed by Sincere Real Estate Services
Data was last updated March 1, 2024 at 02:10 PM (UTC)
Bruce Long CCIM, FRI, PREC
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