Office Listings

1120 May St
Vi Fairfield West V8V 2S5

$2,288,000
Commercial Sale built: 1912

Main Photo: 1120 May St in : Vi Fairfield West Multi Family for sale (Victoria)  : MLS®# 871682
Photo 1: 1120 May St in : Vi Fairfield West Multi Family for sale (Victoria)  : MLS®# 871682
Photo 2: 1120 May St in : Vi Fairfield West Multi Family for sale (Victoria)  : MLS®# 871682
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Photo 43: 1120 May St in : Vi Fairfield West Multi Family for sale (Victoria)  : MLS®# 871682
Photo 44: 1120 May St in : Vi Fairfield West Multi Family for sale (Victoria)  : MLS®# 871682
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
871682
Year Built:
1912
You are invited to this rare opportunity to acquire the jewel at Beacon Hill Park. A 10 suite revenue & character apartment building, 3 blocks to Dallas Rd.and in the heart of Cook St. Village. Corrected Current Gross Effective Income greater than $110,000. 4.7% Cap Rate improved upon gentle stabilization. Professionally managed and meticulously cared for 3 2BR + 1 1BR self contained suites and 6 studio suites with shared amenities just steps from bus routes. Potential bonus density afforded by Schedule G bylaw. Coveted Legal, Non-Conforming 46% Bonused FSR (Floor Space Ratio). New roof in 2018. Cherished in a family portfolio for over 30yrs, this opportunity is now exclusively available to serious investors, alone. Request access to financials with a signed confidentiality agreement; see flyer link attached and request password from listing agent. All measurements to be verified. This one will earn well in any portfolio! Arrange viewings with 72hrs notice for tenants, please.
Property Type:
Commercial Sale
Type:
Multi Family
Commercial Type:
Building
Year built:
1912 (Age: 109)
Lease Type:
Sale Price
Listing General Location:
Vi Fairfield West, Victoria
Bathrooms:
- (Full:-/Half:-)
Lot Size:
8,276.4 sq. ft.
Lot Details:
60 ft wide x 135 ft deep
Building Features:
Basement, Bike Storage, Laundry Room, Parking, Shopping Nearby, Storage Room
Construction:
Stucco & Siding
New Construction:
No
Foundation:
Concrete Perimeter
Floor finish:
Mixed
Total Building Area:
6,582 sq. ft.
Water supply:
Municipal
Sewer:
Sewer To Lot
Heating:
Baseboard, Hot Water
Fireplace:
No
Balcony/Deck
Main Level
0
Yes
No
Unrestricted
Operational Expense Per Sq Ft:
6.63
Jurisdiction name:
City of Victoria
Zoning:
SFD
Legal Non-Conformance:
Yes
Occupancy:
Tenant
Property Condition:
Updated/Remodeled
Utilities:
Recycling
Lot Site Features:
Central Location, Park Setting, Shopping Nearby
Parking Features:
On Site
Total Parking Spaces:
0
Road Frontage Type:
Lane
Road Surface Type:
Paved
Date Listed:
Apr 03, 2021
Original Price:
2288000.0
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Listed by Cameron Stewart of Royal LePage Coast Capital - Chatterton
Data was last updated May 6, 2021 at 08:05 PM (UTC)
Area Statistics
Listings on market:
51
Avg list price:
$699,000
Min list price:
$29,999
Max list price:
$16,500,000
Avg days on market:
72
Min days on market:
3
Max days on market:
1,387
These statistics are generated based on the current listing's property type and located in Victoria. Average values are derived using median calculations.
Colin Gilroy
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.