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Somerset Place Apartments 1180 Fort St 46 Unit Apartment Building For Sale Victoria, BC V8V 3K8
INVESTMENT HIGHLIGHTS
- Located in Victoria’s prestigious Rockland neighborhood.
- 42% rental upside with below-market in-place rents.
- Steps from downtown, parks, and cultural landmarks.
- 46-suite apartment block with consistent capital upgrades.
- Walk Score 93, Transit Score 86, Bike Score 97.
- Efficient 28% operating expense ratio with strong NOI.
EXECUTIVE SUMMARY
Cushman & Wakefield, on behalf of Lantern Properties Ltd, proudly presents Somerset Place located at 1180 Fort Street, in the Rockland Neighbourhood of Victoria, BC.
Somerset Place is a three-storey, wood-framed low-rise apartment block which houses 46 rental suites comprised of approximately 25,998 sf of rentable area. The building is maintained to an exceptional standard benefiting from consistent capital upgrades being applied to the asset. The Property is located in the historic Rockland neighbourhood of Victoria, and surrounded by a range of amenities, including shops, restaurants, parks, and cultural attractions. It’s tranquil streets and historic charm make it a sought-after residential area in the capital region.
Somerset Place is a three-storey, wood-framed low-rise apartment block which houses 46 rental suites comprised of approximately 25,998 sf of rentable area. The building is maintained to an exceptional standard benefiting from consistent capital upgrades being applied to the asset. The Property is located in the historic Rockland neighbourhood of Victoria, and surrounded by a range of amenities, including shops, restaurants, parks, and cultural attractions. It’s tranquil streets and historic charm make it a sought-after residential area in the capital region.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.70 AC |
| No. Units | 46 | Building Size | 45,012 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1977 |
| Apartment Style | Low-Rise | Cross Streets | Ormond St. |
| Building Class | C | ||
| Zoning | R3-1 - Multiple Dwelling District | ||
| Sale Type | Investment |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 45,012 SF |
| No. Stories | 3 |
| Year Built | 1977 |
| Cross Streets | Ormond St. |
| Zoning | R3-1 - Multiple Dwelling District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 43 | $1,495 CAD | 555 |
| 2+1 | 3 | $1,153 CAD | 714 |
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Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (85)
Bike Score®
Biker's Paradise (97)
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VIDEOS
MATTERPORT 3D EXTERIOR
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Somerset Place Apartments | 1180 Fort St
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