7488 198B STREET
Langley, BC V2Y1S1
$5,000,000
Property Details
Property & Lot
- Sub-type
- House
- Lot size
- 42,048 square feet
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $30,432 (2025)
Interior
- Basement
- Finished, Full
- Heating
- Forced air
- Fireplace
- None
Parking
- Total spaces
- 5 — uncovered indicated
- Features
- Other
Listing Information
- MLS®
- R3145068
- Listed
- July 13, 2026
- Time on market
- On the market for 49 days
- Tax assessment year
- 2025
- Data last synced
- August 28, 2026
Listing provided by: Investa Prime Realty · Data source: CREA DDF.
Description
Exceptional development opportunity in the heart of Langley's thriving Latimer community. This prime property forms part of an approved townhouse redevelopment site, offering outstanding investment potential in one of Metro Vancouver's fastest-growing neighborhoods. Ideally located close to Highway 1, schools, parks, shopping, restaurants, and the future SkyTrain corridor. A rare chance for builders, developers, and investors to secure a strategic property in a rapidly developing area. Buyer to verify all development details with the Township of Langley. (id:63159)
Values & Trends
This listing
$1,890/sqft
Building average
—
No other active listings in this building
Langley average
$850/sqft
553 active listing(s)
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Detached (House) Market Stats — Langley
Monthly figures from the Fraser Valley Real Estate Board for Langley detached (house)listings — not specific to this property.
MLS® HPI Benchmark Price
$1,500,900
Jul 2026
Average Sale Price
$1,404,904
Jul 2026
Monthly Sales
79
Jul 2026
Active Listings
439
Jul 2026
Sales-to-Active Ratio
18.0%
Jul 2026
Median Days to Contract
22 days
Jul 2026
MLS® HPI Benchmark Price
Source: Fraser Valley Real Estate Board (FVREB).
Location Insights
Weather
Nearest station: Abbotsford
14°C
Clear
Humidity 87%
Wind S calm km/h
Tonight
13°
Tuesday
21°
Tuesday night
13°
Wednesday
20°
Wednesday night
11°
Thursday
19°
Source: Environment and Climate Change Canada.
Population
161,566
(2021 Census)
+12.8% since 2016
Density: 509/km²
Dwellings: 62,282
Median household income: $102,443
After-tax: $89,518
Immigrant population: 22.9%
Top countries of origin (% of total population)
- Korea, South2.7% · 4,325
- India2.6% · 4,225
- United Kingdom2.3% · 3,755
- China1.9% · 3,090
- Philippines1.7% · 2,755
- United States of America1% · 1,550
- Viet Nam0.7% · 1,065
- Germany0.6% · 965
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
22
4/9 categories nearby
Transit
33
5 stop(s) within 800m
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| R E Mountain Secondary | Secondary | 733 m |
| Peter Ewart Middle School | Middle | 880 m |
| Maddaugh Elementary | Elementary | 980 m |
| R C Garnett Demonstration Elementary | Elementary | 1.0 km |
| Donna Gabriel Robins Elementary | Elementary | 1.5 km |
| Katzie Elementary | Elementary | 1.8 km |
| Hazelgrove Elementary | Elementary | 1.8 km |
| Langley Meadows Elementary | Elementary | 2.0 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
| Stop | Type | Distance |
|---|---|---|
| Southbound 200 St @ 7500 Block | — | 318 m |
| Northbound 200 St @ 7600 Block | — | 404 m |
| Westbound 72 Ave @ 198B St | — | 601 m |
| Northbound 200 St @ 72 Ave | — | 603 m |
| Eastbound 72 Ave @ 198B St | — | 618 m |
Nearby Places
Restaurants (3)
- Sushi Mura343 m
- Pizza Corner367 m
- （蜀莊）Grand Chinese Restaurant Langley · 7280 200 Street589 m
Cafes (2)
- Tim Hortons · 7272 200 Street663 m
- Starbucks · 7150 200 Street793 m
Parks (4)
- Carvolth Greenway526 m
- Duffy Greenway583 m
- West Willoughby Park627 m
- Unnamed759 m
Gyms (1)
- Lagree Room318 m
Nearby places data: © OpenStreetMap contributors.
School district: Langley (SD35)
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Mortgage & Ownership Cost Calculator
Minimum required: 20.0% ($1,000,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.