1300 Yates St - Apartments FOR SALE


Victoria, BC V8S 1Z9
$25,000,000 CAD
250-414-8373
1300 Yates St, Victoria, BC for Sale
$25,000,000 CAD
Apartments - FOR SALE
1/3
null | 4.17% Cap Rate

1300 Yates St
Victoria, BC V8S 1Z9


HIGHLIGHTS

  • The property contains 77 suites across a four-storey wood-frame apartment building in Victoria's Fernwood neighbourhood.
  • Approximately 79% of the suites have been fully renovated within the last five years, including the addition of dishwashers.
  • Significant building upgrades include new windows, patio doors, balcony improvements, fire alarm upgrades, and exterior painting.
  • The building offers 62 on-site parking stalls, including 48 covered spaces, along with 63 storage lockers.
  • The suite mix provides a diverse range of unit types, including bachelor, junior one-bedroom, one-bedroom, and two-bedroom suites.
  • The property benefits from a 1.06-acre site and is zoned R3-2 Multiple Dwelling District.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$25,000,000 CAD

PRICE/SF

$451 CAD /SF

# OF UNITS

76

PRICE/UNIT

$328,947

CAP RATE

4.17%

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Royal Arms Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1966

PARKING SPACES

48

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

45,965 SF

ZONING

R302

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Grant EvansColliersMore Info
250-414-8373

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Grant EvansColliersMore Info
250-414-8373

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.