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$ 6,950,000
Est. payment /mo
Active
1504 56 ST Delta, BC V4L 2A8
0.51 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type Asset
MLS Listing ID C8070823
Year Built 1985
Lot Size 0.510 Acres
Property Sub-Type Multi Family
Property Description
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.
Location
Province BC
Community Beach Grove
Area Tsawwassen
Zoning RA112
Interior
Heating Baseboard, Make-Up Air
Cooling Make-Up Air
Appliance Common Water Heater, Freezer
Exterior
Fence Fenced
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected
Roof Type Torch On
Total Parking Spaces 37
Building
Story 3
Sewer Public Sewer, Sanitary Sewer, Storm Sewer
Water Public
Others
Restrictions None Known
Ownership Freehold
Security Features Secured Garage/Parking
