A redevelopment site in the heart of Langley City with holding income has sold for $1.85 million, William Wright Commercial reports.
The site includes two residential lots with rental eight rental units across two four-plexes. The properties have a net operating income of $38,719 and offers the opportunity to acquire redevelopment land in a growing urban center. Langley offers extensive recreational opportunities and community events plus over 346 acres of parkland.
The properties are located at 19712 and 19720 56 Ave., Langley.
Breakdown:
Price: $1,850,000
Lot Size: 21,145 SF
Property Type: Development Land
Zoning: RM1
2016 B.C. Assessment Value: $1,596,000
Date of Sale: 09/27/2017
City: Langley
Province: B.C.
Name of Brokerage: William Wright Commercial
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