About This Property
Spectacular location on the corner of Southgate & Vancouver Streets, in one of Canada's most desirable rental markets, FAIRFIELD WEST. Steps to BEACON HILL PARK, COOK STREET VILLAGE & the ICONIC DALLAS ROAD WATERFRONT. This 12 UNIT CHARACTER APARTMENT BUILDING has been meticulously maintained, extensively renovated & consistently updated by the owners over the past 2 decades, making this one of the finest turn-key buildings in the city! This opportunity has the core components Investors are looking for when purchasing this type of asset. Excellent Return On Investment, 5.59% CAP with current Market Rents, Income Stability, Low Vacancy Risk, Location & Market Demand, Building Condition, Operational Efficiency and Long Term Appreciation. GRD-1 Apartment Zone. 8 One-Bedroom, 1 One-Bedroom & Loft & 3 Bachelor Units all separately metered with their own Heat & Hot Water, 11 Suites have In-Unit Laundry & Tenants enjoy shared Lawn & Garden Area plus individual storage lockers & bike storage. (id:64973)
At $475 per square foot, this 12-unit apartment building in Victoria's desirable Fairfield West neighbourhood is competitively priced compared to the city's average of $557 per square foot for similar multi-family properties. With its exceptional location, meticulously maintained condition, and consistent rental history, this turn-key investment opportunity is well-suited for experienced real estate investors seeking a reliable income stream in one of Canada's most sought-after rental markets.
Property Details
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