First time for sale, this fully leased commercial and residential income property is a fantastic opportunity for an investor looking for dependable income in a stable location.

Addresses: 21594 48th Avenue and 4775 216th Street, Langley BC

Description of the Opportunity:

Built in 1932, the Historic Mathews Cash Grocery building is one of Langley’s few restored historic buildings. This property together with the newly constructed “Coach House” is available For Sale. The Matthews Cash grocery building was completely restored and brought to current code. The Coach house is a brand new building added to the property as part of the redevelopment. Both properties form part of the investment that is For Sale.

TOTAL RENTABLE AREA (approximate sizes only):

Matthews Cash Grocery - 21594 48th Avenue

Main Level – 1100 sq ft retail area occupied

by Tracycakes Bakery Cafe

Upper level – approximately 1100 sq ft – two

bedroom residential unit rented

Coach House - 4775 216th Street

Lower Level – 1500 sq ft – 3 bedroom

residential unit occupied by caretaker

Main Level  - 1000 sq ft Retail – Tenanted by Dr

Stelting

Upper Level – 1500 sq ft – Residential unit –

Rented

Approximate total size of buildings: 6,200 sq ft

SITE AREA:

21594 48th Ave: 5012 sq ft

4775 216th Street: 7529 sq ft

Total: 12,541 sq ft

INCOME INFORMATION:

Gross Rental:        *$104,890

Operating Costs:      $22,000

Property Taxes:        $15,500

Net Revenue:            $67,390

  • Actual and Projected
Location Info