493 Burnside Rd - Apartments FOR SALE


Victoria, BC V8T 2X6
$6,900,000 CAD
250-595-7000
493 Burnside Rd, Victoria, BC for Sale
$6,900,000 CAD
Apartments - FOR SALE
1/5
null | Request Cap Rate

493 Burnside Rd
Victoria, BC V8T 2X6


HIGHLIGHTS

  • Opportunity to acquire 100% interest in a mixed-use multifamily asset within Victoria’s Burnside neighborhood
  • Property consists of 24 residential units and 6 ground-floor commercial retail units, providing diversified income streams
  • Located off Burnside Road East and Finlayson Street with excellent connectivity to the Saanich Core and Downtown Victoria
  • Renovated in 2010, with a majority of residential suites featuring in-suite laundry for enhanced tenant convenience
  • Three-storey building offers a mix of bachelor, one-bedroom, and two-bedroom units catering to a wide tenant demographic
  • Established history of stable rental income with potential for future rental growth, creating a compelling long-term investment opportunity

OVERVIEW

Devon Properties is pleased to present a unique opportunity to acquire a 100% interest in Midtown Mews – a prominently located mixed-use multifamily investment offering situated in Victoria’s thriving Burnside neighbourhood. Comprised of 24 residential units and 6 ground-floor commercial retail units, the property benefits from a history of stable rental income. Strategically positioned off Burnside Road East and Finlayson Street, Midtown Mews enjoys strong exposure and connectivity between the Saanich Core and Downtown Victoria. Renovated in 2010, a majority of suites feature in-suite laundry. Spanning three storeys, the building offers a favourable mix of bachelor, one- and two- bedroom units appealing to a diverse and stable tenant base. With strong in-place income and clear potential for future rental growth, Midtown Mews presents a rare opportunity to acquire a stable, income-producing asset.

FOR SALE DETAILS

PRICE

$6,900,000 CAD

PRICE/SF

$249 CAD /SF

# OF UNITS

24

PRICE/UNIT

$287,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midtown Mews Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

M-2

APN/PARCEL ID

002-625-407

ASK ABOUT THIS PROPERTY

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

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

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