1504 56th St - Apartments FOR SALE


Delta, BC V4L 2A8
$6,950,000 CAD
604-420-2600
1504 56th St, Delta, BC for Sale
$6,950,000 CAD
Apartments - FOR SALE
1/1
null | 3.75% Cap Rate

1504 56th St
Delta, BC V4L 2A8


OVERVIEW

Greensview Apartments is a well-maintained 24-suite, three-storey rental apartment building located in the heart of Tsawwassen, one of Delta's most established communities. Built in 1985 on a 22,200 SF lot, the building features a mix of one- and two-bedroom suites, tenant storage, and secured parking. Offered at a 3.75% cap rate and approximately $289,580 per door, the property provides strong in-place income with 2025 net income projected to rise 11.4% following 4.6% growth in 2024 ' a 16.5% increase over two years. With several suites currently below market, there is clear rental upside through tenant turnover. The property is designated Neighbourhood Centres & Corridors in Delta's 2024 OCP, allowing for consideration of future redevelopment up to 6 storeys

FOR SALE DETAILS

PRICE

$6,950,000 CAD

PRICE/SF

$251 CAD /SF

# OF UNITS

24

PRICE/UNIT

$289,583

CAP RATE

3.75%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Greensview

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1988

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.92 AC

LAND SF

344,995 SF

ZONING

RA 112

APN/PARCEL ID

011-156-279

ASK ABOUT THIS PROPERTY

Thomas TrowbridgeLondon Pacific Property Agents Inc.More Info
604-420-2600

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Thomas TrowbridgeLondon Pacific Property Agents Inc.More Info
604-420-2600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.