Royal Arms Apartments 1300 Yates St 76 Unit Apartment Building $18,024,254 USD ($237,161 USD/Unit) 4.17% Cap Rate Victoria, BC V8S 1Z9

Royal Arms Apartment is located at 1300 Yates Street on the corner of Yates Street and Fernwood Road in the Fernwood neighbourhood of Victoria. This 77-suite, four-storey wood-frame apartment building was constructed in 1966 and is serviced by one Montgomery elevator. The building features electric baseboard heating throughout, shared laundry facilities with five washers and five dryers, 63 storage lockers, and 62 on-site parking stalls, including 48 covered spaces. The property is situated on a 45,965 square foot (1.06-acre) site and contains approximately 55,375 square feet of gross building area and 46,167 square feet of net rentable area. The suite mix consists of six bachelor suites, twelve junior one-bedroom suites, forty-nine one-bedroom suites, and ten two-bedroom suites. Over the past five years, the property has undergone extensive capital improvements, including upgrades to common areas, balconies and railings, the fire alarm system, exterior windows and sliding patio doors, and exterior painting. Additionally, 61 suites have been fully renovated, with each renovated suite including the addition of a dishwasher. The property is zoned R3-2 Multiple Dwelling District and is offered with clear title.