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Victoria Court

5769 201A Street, Langley

SOLD $2,200,000

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Price$2,395,000

Year built1993

Lot size32,831 sq. ft.

ZoningC-1 Downtown Commercial

Cap rate5.5%

PID017-906-831

Legal descriptionParcel A, DL 309, LD 36, PL LMP 06124

Sale price$2,200,000

Sale date12/01/2004

Overview

Built in 1993, Victoria Court is an excellent quality mixed-use, multifamily/commercial complex centrally located in Langley. Features 13 large 2 Br (2 level), 2 guest suites and 9,212 sq. ft. of commercial (7 offices). Immaculate condition, high profile site.

Improvements

– Separate secure enterance for residential
– Balconies for each suite
– Insuite W/D, dishwasher, H/W tank in res. units
– Gas F/P for all res. and 1 commercial tenant
– Res. tenants pay heat (electric), H/W & F/P (gas)
– Air conditioning for each commercial

Show less

	No. units	Average size
Two Bedroom (2 levels)	No. units13	Average size1,200
Guest Suites	No. units2
Commercial	No. units7 offices

Financials

Financing	Clear Title.
Assessment 2004	Land Building Total	Land$722,000 Building$1,505,000 Total$2,227,000
Taxes 2004	$39,128.91
Income and expenses	Effective gross Operating expenses Net operating income	Effective gross$263,607 Operating expenses(132,060) Net operating income$131,547
Notes	Income annualized as of October 1, 2004. The income & expenses shown above are the actual statement of operations. However, there is currently one vacant commercial space (suite #169) of 2062 sq. ft. which represents approx. 22% of the commercial income. Assuming the commercial is fully occupied, the CAP rate increases to 7.4% on asking price. For rent roll, income & expense statement and further tenant information, click here.

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.