1401 Fort Street, Victoria, BC
Victoria , BC
FOR SALE
Property Details
- Site Size 10,222 sf
- Zoning R3-AM-2 Mid-Rise Multiple Dwelling District
- Land Use Designation Urban Residential - Up to 6 storeys
- Year Built 1958
- Storeys 3
- Units 13
- Suite Mix 1-Bed: 8 | 2-Bed: 5
- Parking 7 covered stalls
- Pricing Guidance $3,600,000
- Cap Rate 4.75%
Opportunity
The Avison Young Multi-Family Team is pleased to present the opportunity to acquire 1401 Fort Street, Victoria, BC (“the Property”) a 13-unit rental apartment building located in Victoria’s highly sought-after Rockland neighbourhood. This 3-storey wood-frame building is situated on a 10,222 sf lot and features a desirable mix of spacious one and two bedroom suites. The property benefits from recent capital upgrades including windows, balconies, and roof improvements, while still offering significant value-add potential through interior renovations and rental repositioning.
Investment Highlights
Significant rental upside (rents are 23% below market)
Connected to major transport corridors giving immediate access to downtown Victoria
Nearby an abundance of shopping, services and amenities
Dishwasher included in six (6) units
Covered car port available to tenants (7 stalls)
Primary heating source is via natural gas fireplaces in each suite (paid for by each tenant)
