DOWNTOWN LANGFORD BC HIGH RISE APARTMENT SITE OPPORTUNITY
I am proud to present four fantastic properties ready for development in Downtown Langford. Below I have provided a short description of the existing properties along with an outlined map for your convenience.
The owner is looking to sell the properties together. Totaling approx 28,004 sq.ft. Asking Price: $2,750,000.
Langford has indicated rezoning for higher density 1.5 FSR . Possibble Development for Apartments, Office building or Condominiums. The City of Langford has a quick turn around on Rezoning and Develpment permit applications
Property One of the Langford Apartment Site:
2766 & 2768 Millstream Road (recently re-named to Veterans Memorial Parkway): Strata Duplex (Side by Side)
2766: 3 bedrooms, 1.5 bathrooms, new renovation completed April 2015.
2768: 3 bedrooms, 2.5 bathrooms, renovation completed July 2014.
This duplex sits on a large rectangular lot with major frontage onto Veterans Memorial Parkway. Easily rented out for $1,650.00 per month, each side. Tenants pay all of their own utilities. Parking for two vehicles (off road) for each unit.
Property Two of the Langford Apartment Site:
2758 Millstream Road: Small 2 bedroom house.
Renovation completed August 2014. New floors and fresh paint. Great stand alone home adjoining the duplex. Two bedrooms and one bathroom. Really neat little rental, fully fenced yard. Frontage onto VMP. Rented out today at 1,450.00 per month, 1,500.00 per month is probably the max. Tenants pay all their own utilities. Parking for two vehicles (off road).
Property Three of the Langford Apartment Site:
705 Massie Drive - Purpose built up and down duplex. Adjoins the rear property line of 2758 VMP.
3 bedrooms and 1.5 bathrooms upstairs. 2 big bedrooms and 2 full bathrooms downstairs. Currently rented out for 1,550.00 upstairs. Could easily be 1,600.00 to 1,800.00. Currently rented out for 1,450.00 downstairs. Parking for two vehicles (off road) for each unit.
Property Four of the Langford Apartment Site:
707 Massie Drive - Adjoins 705 Massie Drive. Currently principal residence.
Main house is 4 good size bedrooms and 3 full bathrooms. Coach house is approximately 550 square foot studio with one bathroom. University attending son lives in unit. Was used as a yoga studio for 3 years. Currently could be used as yoga studio or would make an awesome hair salon. Lots of options with the secondary house. The main house would easily rent for 1,750.00 per month and maybe 2,000.00. The coach house/studio would rent for 650.00 to 750.00 monthly. Parking out front of main house for 2-4 vehicles. Parking for rear studio for 2- 5 vehicles.
These properties are an ideal holding property for future development, as the Western Communities continue their strong growth. Two new high schools are currently under construction and the multi unit, mixed use construction continues in close proximity. There is a lot of potential for an even larger development, lets talk!
I am happy to help if you have further questions or if you would like to walk the properties.
Source: DOWNTOWN LANGFORD BC HIGH RISE APARTMENT SITE