1800-1850 Government St - Apartments FOR SALE


Victoria, BC V8T 4N5
$13,500,000 CAD
250-595-7000
1800-1850 Government St, Victoria, BC for Sale
$13,500,000 CAD
Apartments - FOR SALE
1/5
null | Request Cap Rate

1800-1850 Government St
Victoria, BC V8T 4N5


HIGHLIGHTS

  • Held in bare trust, which may provide for significant tax savings.
  • Value add potential with in place below market rents and unit renovation opportunities.
  • Desirably located within Victoria’s Old Town near major bus routes.
  • Exceptional commercial retail frontage along Government Street.
  • Residential units separately metered with electric baseboard heat*, in-suite washer & dryers, and separate hot water tanks.
  • The longest standing building in Chinatown.

OVERVIEW

Devon Properties and Avison Young Victoria are pleased to offer for sale the Lim Dat Building — a rare investment opportunity prominently located in Victoria’s historic Old Town. With its unique block-long frontage along Government Street, the building benefits from exceptional visibility, strong foot traffic, and a favourable mix of commercial and residential tenancies. Recognized as a designated Heritage and National Historic Site, Lim Dat is the longest-standing building in Victoria’s Chinatown. Originally constructed in 1909, the property has been extensively revitalized through nearly $1.8 million in capital improvements, thoughtfully blending original character with modern functionality. Lim Dat offers investors the rare opportunity to acquire a landmark asset in one of Victoria’s most dynamic locations. CAPITAL IMPROVEMENT SUMMARY Exterior Brick Repointing (2023 / 2016) Commercial retrofit to 2 residential units (2022) Exterior repainting (2022) New Residential Intercom (2020) Complete Elevator Upgrade (2019) Seismically Upgraded (2016) Extensive Building Renovations (2016 - 2025) Storage Room Residential Lobby Residential Corridors Commercial Units BUILDING HISTORY The Lim Dat Building is recognized as the longest-standing building in Victoria’s Chinatown — the oldest surviving Chinatown in Canada — and proudly designated as both a Heritage and National Historic Site. Originally constructed in 1909 by local entrepreneur Lim Dat and his son Lim Bang, the building was designed by the esteemed architecture firm Hooper & Watkins in the Edwardian Commercial style. Its block-long frontage, arched windows, and recessed balconies remain iconic elements of the streetscape today. Originally home to twelve storefronts and dormitory-style accommodations above, the building provided essential space for Chinese-Canadian businesses and community life during the early 20th century. The Lim family, played a foundational role in shaping Victoria’s Chinatown. Lim Bang oversaw brick manufacturing, greenhouse operations, and real estate investments — including construction of the Lim Dat Building using brick from the family’s own Sidney Brick & Tile Company. After decades of use, the property underwent periods of decline before being partially restored in the 1970s and later comprehensively renovated in the early 1990s. In 2015, the current ownership embarked on an extensive revitalization, restoring the heritage façade, upgrading building systems. Today, the Lim Dat Building stands as a fully modernized, income-producing asset — a rare opportunity to own a piece of Victoria’s living history.

FOR SALE DETAILS

PRICE

$13,500,000 CAD

PRICE/SF

$309 CAD /SF

# OF UNITS

24

PRICE/UNIT

$562,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lim Dat Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

OTD-1

APN/PARCEL ID

009-370-731,009-370-749,9370731

ASK ABOUT THIS PROPERTY

Dave CraigDevon Properties Ltd.More Info
250-595-7000

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

Dave CraigDevon Properties Ltd.More Info
250-595-7000

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