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2312 Wark St 8 Unit Apartment Building $2,100,000 CAD ($262,500 CAD/Unit) 5.44% Cap Rate Victoria, BC V8T 4G6
INVESTMENT HIGHLIGHTS
- 10 parking stalls, fully rented at $75/month.
- Secure bike storage available on-site.
EXECUTIVE SUMMARY
The subject property features a two-and-a-half-storey wood-frame apartment building that has been converted into eight (8) legal suites. These include one (1) studio suite, five (5) one-bedroom suites, one (1) two-bedroom suite, and one (1) three-bedroom suite. The property offers on-site parking for up to 10 vehicles, and most suites include balconies or patios. Rent covers hot water and heating for all suites, except for the three-bedroom suite, which is responsible for its own electric heating costs. The two-bedroom suite has in-suite laundry, while the remaining suites have access to on-site laundry machines owned by the Landlord. Each suite is individually metered for electricity, with tenants directly responsible for their usage.
PROPERTY FACTS
| Price | $2,100,000 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $262,500 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.44% | Building Size | 4,309 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | ||
| Zoning | R2 - Official Community Plan (OCP) designates the property as Traditional Residential | ||
| Price | $2,100,000 CAD |
| Price Per Unit | $262,500 CAD |
| Sale Type | Investment |
| Cap Rate | 5.44% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,309 SF |
| No. Stories | 3 |
| Year Built | 1912 |
| Zoning | R2 - Official Community Plan (OCP) designates the property as Traditional Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (88)
Bike Score®
Biker's Paradise (93)
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2312 Wark St
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