971 Market St - Apartments FOR SALE


Victoria, BC V8T 4Z3
$10,000,000 CAD
604-647-1352
971 Market St, Victoria, BC for Sale
$10,000,000 CAD
Apartments - FOR SALE
1/1
null | 4.87% Cap Rate

971 Market St
Victoria, BC V8T 4Z3


HIGHLIGHTS

  • Ideally situated in Quadra Village with a short commute to Downtown Victoria, Uptown, Hillside & Mayfair Shopping Centres
  • Perfectly connected to major transport corridors serving the Capital Regional District
  • Held in a bare trust - PTT savings will apply
  • Extensive capital improvements and upgrades completed
  • Strong rental upside with opportunity to optimize rents to market
  • Tenants pay their own heat & hydro, minimizing operating costs

OVERVIEW

The Avison Young Multi-Family Team is pleased to present the opportunity to acquire North Hill Apartments, a well-maintained 33-unit rental building with one office unit, situated in Victoria’s desirable Quadra Village neighbourhood. The Property occupies a prominent corner lot at Market Street and Wark Street, totalling 26,100 sf. Current ownership has invested approximately $530,000 in capital improvements since 2022, including full suite renovations on 19 units, common area upgrades featuring new flooring and fresh paint, landscaping enhancements, and deck/balcony repairs. North Hill Apartments represents a compelling opportunity to acquire a cash-flowing multi-family asset in one of Canada’s strongest rental markets with a value-add opportunity on 14 non-renovated units.

FOR SALE DETAILS

PRICE

$10,000,000 CAD

PRICE/SF

$383 CAD /SF

# OF UNITS

33

PRICE/UNIT

$303,030

CAP RATE

4.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

North Hill Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1977

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,600 SF

ZONING

GRD-1 (PGA) - General Res

APN/PARCEL ID

001-740-687

ASK ABOUT THIS PROPERTY

Carey BuntainAvison YoungMore Info
604-647-1352

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Carey BuntainAvison YoungMore Info
604-647-1352

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