Built in 1993, Victoria Court is a high quality mixed-use rental apartment/office complex centrally located in Langley. Features 13 large split-level two bedroom units, 1 office, 1 guest suite and 9,251 sq. ft. of commercial space comprised of 7 offices.
Centrally located in Downtown Langley, a block north of Fraser Highway on 201A Street. A minute drive to the Langley Bypass, a main arterial route.
Downtown is home to 600 unique shops, services and restaurants. This pedestrian-oriented shopping area features historic Innes Corners, trendy McBurney Lane as well as the Cascades Casino, Coast Hotel & Convention Centre. Valley Centre is a located few minutes walking distance from Victoria court. Major retailers include Save On Foods, Shoppers Drug Mart, Liquor Store and Starbucks.
- Newer well-maintained building constructed in 1993
- Separate secure entrance for residential
- All residential units are two bedrooms and feature balconies
- Residential suites feature gas fireplace, washer/dryer, dishwasher and hot water tank
- Residential tenants pay electric heat, hot water and gas
- Commercial units feature air conditioning and one tenant has gas fireplace
- Commercial area totals 9,251 sq. ft.
- Roof replaced – $80,000 (2011)
- Soffits & fascia board replaced (2010)
- Sprinkler system pipes replaced – $38,000 (2010)
- Hot water tanks have all been replaced at least once
|No. units||Average size||Average rent|
|Two Bedroom (2 levels)||No. units13||Average size1,200||Average rent$1,006|
|Commercial Office||No. units7|
|Manager's Office||No. units1|
|Visitors Suite||No. units1|
|Income and expenses|
Net operating income
Gross Income $156,960
Less Vacancy 1.5% (2,354)
Effective Gross Income $154,606
Residential NOI: $102,664
Triple Net Income $117,722
Less Vacancy 3% (3,532)
Commercial NOI: $114,190
For detailed financials, please 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.