Langley Apartment Building Sales — Price Per Unit Analysis (2016–2024)
Langley Apartment Building Sales — Price Per Unit Analysis (2016–2024)
This report analyzes 12 apartment building transactions recorded in Langley between October 2016 and March 2024, representing $75 million in total transaction volume. Langley’s apartment investment market is one of the Fraser Valley’s most compelling growth stories — supported by rapid population growth, the Surrey–Langley SkyTrain extension currently under construction, and a steadily maturing rental market that has attracted increasing attention from Metro Vancouver investors. Data compiled by David Taylor, Senior Vice President at Colliers International in Vancouver, and tracked on Vancouver Market.
Key Market Observations
Small buildings command a dramatic premium. Buildings under 15 units have traded at $325,000–$625,000 per unit, while buildings above 30 units typically price between $149,000 and $343,000 per unit. This 2x spread is consistent with patterns across Metro Vancouver.
The Surrey–Langley SkyTrain is a transformative catalyst. The extension, currently under construction with completion expected in 2028–2029, will bring rapid transit directly into the City of Langley. Properties near future station areas stand to benefit from increased tenant demand and a long-term repricing as a transit-accessible rental market.
Langley offers a significant yield premium over Vancouver and Burnaby. At $305,000 per unit, Langley apartment buildings trade at a meaningful discount to Vancouver’s westside ($280,000–$428,000), Burnaby ($310,000), and North Vancouver ($465,000). For yield-focused investors, this pricing gap represents an opportunity.
The 204th Street corridor is emerging as an institutional-grade node. Two transactions in 13 months — 5400 204th Street ($250,000/unit, Feb 2023) and 5375 204th Street ($343,241/unit, Mar 2024) — represent a 37% price increase and suggest growing institutional appetite for scale in Langley’s downtown core.
Transaction volume is extremely thin — which underscores scarcity. Twelve transactions in eight years reflects how tightly held Langley apartment buildings are. When buildings do come to market, they attract competitive interest from buyers priced out of inner Metro Vancouver.
All 12 Langley Apartment Sales
5375 204th Street — $18,535,000 ($343,241/unit, 54 units, Mar 2024). 5400 204th Street — $8,500,000 ($250,000/unit, 34 units, Feb 2023). 20214 54A Avenue — $5,000,000 ($625,000/unit, 8 units, Jun 2022). 20672 Eastleigh Crescent — $6,200,000 ($221,429/unit, 28 units, Jul 2022). 23786 Old Yale Road — $1,300,000 ($325,000/unit, 4 units, Jan 2022). 6722 Glover Road — $9,400,000 ($204,348/unit, 46 units, Apr 2021). 5769 201A Street — $6,700,000 ($515,385/unit, 13 units, Oct 2020). 20727 Fraser Highway — $6,070,000 ($164,054/unit, 37 units, Jul 2019). 20669 Eastleigh Crescent — $2,745,000 ($392,143/unit, 7 units, Jan 2018). 3175 271st Street — $1,690,000 ($281,666/unit, 6 units, Sep 2017). 6465 201st Street — $7,450,000 ($149,000/unit, 50 units, Jan 2017). 3136 268th Street — $1,150,000 ($191,667/unit, 6 units, Oct 2016).
Frequently Asked Questions
What is the average price per unit for a Langley apartment building?
Based on 12 transactions from 2016 to 2024, the average price per unit for a Langley apartment building is approximately $305,000. Small buildings under 15 units regularly trade at $325,000–$625,000 per unit, while larger buildings above 30 units price between $149,000 and $343,000 per unit.
How have Langley apartment building prices changed over the past 8 years?
Pricing has increased substantially from 2016–2017 entry points of $149,000–$192,000 per unit. The most recent large-format transaction — 5375 204th Street in March 2024 — traded at $343,241 per unit for 54 units, representing more than double the 2017 low. Small-format buildings have reached $625,000 per unit.
How will the Surrey–Langley SkyTrain affect apartment values?
The Surrey–Langley SkyTrain extension, currently under construction with completion expected in 2028–2029, is expected to support tenant demand and property values — particularly for buildings near future station areas in the City of Langley’s downtown core. The 204th Street corridor, which has seen the dataset’s two most recent transactions, is located near the planned Langley City Centre station.
Is now a good time to sell an apartment building in Langley?
Langley apartment buildings are among the most tightly held in the Fraser Valley — 12 transactions in eight years reflects extreme scarcity. Buyer demand remains active, particularly for buildings near the future SkyTrain alignment. For long-term holders who acquired at earlier pricing, the embedded appreciation is meaningful. David Taylor at Colliers International offers confidential consultations on current market value. Contact david.taylor@colliers.com or 604-761-7044.
How does Langley apartment pricing compare to other Metro Vancouver municipalities?
Langley’s average of $305,000 per unit is broadly comparable to Burnaby ($310,000) and positioned well below North Vancouver ($465,000) and Vancouver’s westside ($280,000–$428,000). For yield-focused investors, Langley offers a meaningful premium over inner Metro Vancouver markets while benefiting from strong population growth and the upcoming SkyTrain connection.
For Langley Apartment Building Owners
If you own an apartment building in Langley and would like to understand its current market value, David Taylor welcomes confidential inquiries from property owners at any stage of the decision-making process.
david.taylor@colliers.com |
604-761-7044 | Vancouver, BC
Interactive Chart & Full Transaction Table
The scatter chart and complete 12-transaction table are below. Hover over any data point for property details.