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1060 Pakington St 33 Unit Apartment Building $10,250,000 CAD ($310,606 CAD/Unit) 4.50% Cap Rate Victoria, BC V8V 3A1
INVESTMENT HIGHLIGHTS
- Large double-pane windows throughout
- Suites individually metered for hydro (paid by the tenants)
- Upgraded Montgomery hydraulic elevator system
- Electric baseboard heaters (paid by the tenants)
- 100-amp breaker panels in each unit
- New Mircom intercom system
EXECUTIVE SUMMARY
Avison Young’s Multi-Family Team is pleased to present Park Royal Manor, a rare value-add opportunity featuring a 33-unit rental apartment building located at 1060 Pakington Street in Victoria, British Columbia (the “Property”). The Property is a well-maintained multifamily asset offering a strong going-in yield for investors, along with significant upside in rental revenue upon unit turnover. Ideally situated in Victoria’s inner core—minutes from Downtown Victoria, steps from Cook Street Village, and surrounded by premier amenities—Park Royal Manor represents a unique investment opportunity with substantial potential to capitalize on one of Canada’s most desirable rental markets.
PROPERTY FACTS
| Price | $10,250,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $310,606 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 4.50% | Building Size | 21,600 SF |
| No. Units | 33 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Zoning | R3-AM-1 - Mid Rise Multiple Dwelling District | ||
| Price | $10,250,000 CAD |
| Price Per Unit | $310,606 CAD |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 21,600 SF |
| No. Stories | 4 |
| Year Built | 1965 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | R3-AM-1 - Mid Rise Multiple Dwelling District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 21 | - | - |
| 2+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (83)
Bike Score®
Very Bikeable (84)
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1060 Pakington St
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