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Wellington Manor 1670 Fort St 36 Unit Apartment Building $9,200,000 CAD ($255,556 CAD/Unit) Victoria, BC V8R 1H9



Investment Highlights
- Wellington Manor offers stable in-place income with clear potential to increase rents over time in line with prevailing market trends.
- Eighteen suites have been renovated or upgraded since 2019, reducing near-term capital requirements for a new owner.
- The exterior renovations deliver a modern, mid-century aesthetic that enhances curb appeal and distinguishes the asset along Fort Street.
- The property consists of a well-balanced unit mix of 23 one-bedroom and 13 two-bedroom suites, appealing to a broad tenant base.
- The building is located in the sought-after Jubilee neighbourhood, steps from major medical facilities, retail amenities, and transit.
- Zoning under R3-2 (Multiple Dwelling District) and an Urban Residential OCP designation support long-term multifamily use and value retention.
Executive Summary
Wellington Manor is a four-storey, wood-frame, low-rise apartment building comprising 36 suites and situated on an approximately 30,797-square-foot lot at 1670 Fort Street in Victoria, British Columbia. Located in the highly desirable Jubilee neighbourhood, the property is surrounded by extensive amenities, including the Royal Jubilee Hospital, medical offices, schools, and grocery-anchored retail plazas, while also being just minutes from Victoria’s downtown core. Built in 1965, the building features a concrete foundation, Fort Street access and egress, and a gross building area of approximately 30,797 square feet. The exterior has been thoughtfully updated with a vibrant mid-century modern aesthetic, incorporating accent panels and modernized address signage that create a strong street presence. The suite mix includes twenty-three one-bedroom units and thirteen two-bedroom units, with 18 units renovated or upgraded since 2019. Additional features include common laundry facilities, extensive tenant storage options totaling 36 lockers, hot water baseboard heating via a gas boiler, and a 600-amp electrical service with 60 amps to each unit. With stable in-place income and future rental upside potential, Wellington Manor represents a compelling investment opportunity within Victoria’s resilient multifamily market.
Property Facts
| Price | $9,200,000 CAD | Building Class | C |
| Price Per Unit | $255,556 CAD | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 30,797 SF |
| No. Units | 36 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2019 |
| Property Subtype | Apartment | Parking Ratio | 1.1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3-2: Multiple Dwelling - R3-2: Multiple Dwelling District | ||
| Price | $9,200,000 CAD |
| Price Per Unit | $255,556 CAD |
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 30,797 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1965/2019 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | R3-2: Multiple Dwelling - R3-2: Multiple Dwelling District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 23 | - | 650 |
| 2+1 | 13 | - | 750 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
70/100
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Wellington Manor | 1670 Fort St
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