Park Villa Apartments

$6,600,000
Firm



Description

Very well managed 24 unit apartment building featuring two massive penthouse suites in the heart of Ladner.

The Opportunity

Park Villa Apartments presents a rare opportunity to acquire a strategically located asset of scale in the desirable and rapidly growing seaside Community of Ladner. The Property is adjacent to Ladner’s business district lending to fantastic walkablity to ammenities and services for tenants. This asset of scale is located on approximately 18,000 sf of land with street to street frontage of 150 feet. This exceptionally well managed building boasts a top-of-class live-in caretaker and is 100% occupied with a very desirable caliber of tenants.

Opportunity Highlights

  • Desirable mix of spacious and well laid out unit types, highlighted by highlighted by two enormous penthouse suites with wrap around rooftop balconies.
  • Situated on a street-to-street lot of approximately 18,000 sf with 150 feet of frontage on 47A Avenue.
  • Strategic location within easy walking distance to key tenant services and amenities.
  • Recent major capital expenditure includes upgrades to elevator, plumbing, the mechanical room, and the windows.
  • Signficant value-add potential within the residential units upon tenant turnover, and opportunity to potentially add to unit count by demising the approximate 3,400 sf of net rentable area on the penthouse level.
  • Exceptional resident caretaker with extensive repair and maintenance skills and strong tenant relations.
  • A comprehensive and recent building condition report and updated phase-1 environmental report will be made available to qualified prospects.

Ladner

  • Ladner is a very desirable, rapidly growing, and sought after seaside community located in the Lower Mainland.
  • The Property is located adjacent to Lander’s business district.
  • Three main shopping plazas are located less than a 5 minute walk from the Property; tenants can find grocery stores, coffee shops, restaurants, pharmacies, and banking.
  • The Property is a 4 minute walk from the Delta-Ladner Community Centre, Memorial Park, and the Ladner Outdoor Pool.
  • Park Villa Apartments is a 6 minute walk from the riverside walk along the Fraser River.
    Tsawwassen Mills shopping mall is a 15 minute drive from The Property and features 1.2 million sf in retail space with over 200 retailers.
  • 17 minute drive to Tsawwassen Ferry Terminal which provides access to Vancouver Island, both Victoria and Nanaimo.
  • Construction began in April of 2017 on a replacement bridge for the congested George Massey Tunnel, which will significantly improve travel times to-and-from the Delta Region.

Location

4947 47A Avenue, Delta, BC

Attachments

Agent

David Venance

Vice President

+1 604 998 6054
+1 604 910 3842