Dunsmuir Royale Apartments sold for $4.8 million

The complex is located near downtown Victoria and has 32 units leased at under-market rents

for Western Investor
May 16, 2017

dunsmuir apartments
Price: $4,800,000
No. of Units: 32
Price/Unit: $150,000
Lot Size: 21,796 SF
Property Type: Multi-family 
2016 B.C. Assessment Value: $3,601,000
City: Victoria    
Province: B.C. 
Name of Brokerage: CBRE Vancouver
A four-storey rental building near downtown Victoria has sold for $4.8 million, according to CBRE Vancouver. 
Dunsmuir Royale Apartments has 32, fully-leased units, sold at $150,00 per door. The building is situated on a 21,796-square-foot corner lot just minutes away from the downtown core, the Parliament of British Columbia and Beacon Hill Park. The property was marketed towards investors looking to increase cash flow by renovating suites and re-leasing at current market rents. The apartment was originally listed on the market at $5,500,000. 
The property is located at 801 Esquimalt Rd., Victoria. 

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Lance Coulson is the Executive Vice President of CBRE’s National Apartment and Investment Properties Group BC with 21-plus years of experience in commercial real estate, specializing in multi-family properties.

CBRE Canada
Suite 2500, 1021 W Hastings St.
Vancouver, B.C. V6E 0C3
Office: 604-662-5141

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