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Additional details

Nader Bakhoum,PMP, P.Eng.

info@home-nader.com +1(604) 612-7228

$ 6,950,000

Est. payment | -/mo

0.51 Acres Lot

Save

$ 6,950,000

Est. payment | -/mo

Save

0.51 Acres Lot

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

1504 56 ST Delta, BC V4L 2A8