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1401 Fort St 13 Unit Apartment Building $2,625,514 USD ($201,963 USD/Unit) 4.75% Cap Rate Victoria, BC V8S 1Y9
Investment Highlights
- Significant rental upside (rents are 23% below market)
- Nearby an abundance of shopping, services and amenities
- Covered car port available to tenants (7 stalls)
- Connected to major transport corridors giving immediate access to downtown Victoria
- Dishwasher included in six (6) units
- Primary heating source is via natural gas fireplaces in each suite (paid for by each tenant
Executive Summary
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.
Property Facts
| Price | $2,625,514 USD | Building Class | C |
| Price Per Unit | $201,963 USD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 17,124 SF |
| Cap Rate | 4.75% | No. Stories | 3 |
| No. Units | 13 | Year Built | 1958 |
| Property Type | Multifamily | Cross Streets | Yates St. |
| Property Subtype | Apartment | ||
| Zoning | R3-AM-2 - Mid Rise Multiple Dwelling District | ||
| Price | $2,625,514 USD |
| Price Per Unit | $201,963 USD |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 17,124 SF |
| No. Stories | 3 |
| Year Built | 1958 |
| Cross Streets | Yates St. |
| Zoning | R3-AM-2 - Mid Rise Multiple Dwelling District |
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Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (75)
Bike Score®
Biker's Paradise (92)
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1401 Fort St
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