20689 56 Avenue
Langley, BC
FOR SALE
Property Details
- Total Site Size 17,372 sf
- Zoning C1- Downtown Commercial Zone
- Land Use Designation Residential 3A
- Year Built 1990
- Storeys 3
- Units 13
- Suite Mix 2-Bed:12 | CRU: 1
- Gross Leasable Area 15,211 sf
- Parking 24
- Sale Structure Asset sale
- Financing Treat as clear title
- Stabilized Net Operating Income $248,137
- Asking Price $4,900,000 | $322 psf | 5.06% cap rate
Opportunity
Avison Young is pleased to present the opportunity to acquire a mixed-use stratified rental property located at 20689 56 Avenue in Langley, BC. The Property comprises 12 residential units and one commercial retail unit, providing a diversified income stream and an attractive investment opportunity.
Well-positioned within the City of Langley, the Property offers convenient access to major transportation routes, public transit, shopping and everyday amenities. With a mix of residential and commercial income, the Property provides investors with stable in-place income and long-term growth potential within Langley’s evolving urban landscape.
Investment Highlights
12 stratified rental apartment units and 1 stratified commercial unit
Well-maintained building with minimal capex required
Electric baseboard heating and hot water – paid for by tenants (via individual BC Hydro meters)
Prime location positioned within 800m of the incoming Langley City Centre SkyTrain Station
Electric hot water tanks in each unit
12 two-bedroom residential units with full size dishwashers and in-suite laundry
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