A three-storey rental building in Victoria has sold for $3.35 million, according to CBRE Vancouver.
Thornwood Manor Apartments is a well-maintained, 13-suite building just a six-minute drive away from Victoria’s downtown core. The wood-frame building was constructed in 1978 with a stucco exterior, renovated with a new roof in 2016. The complex is a mix of one- and two-bedroom suites with an average rent of $916. The 14,880-square-foot site has a capitalization rate of 3.26 per cent and a net operating income of $109,104.
The property is located at 1028 Inverness Rd., Victoria.
Breakdown:
Price: $3,350,000
No. of Units: 13
Price/Unit: $257,692
Lot Size: 14,880 SF
Property Type: Multi-family
Zoning: RA-3
2016 B.C. Assessment Value: $1,729,000
City: Victoria
Province: B.C.
Name of Brokerage: CBRE Vancouver
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