Price: $2,375,000
No. of Units: 16
Price/Unit: $148,437
Lot Size: 7,055 SF
Property Type: Multi-family
Zoning: RM3
2016 B.C. Assessment Value: $2,513,000
City: Victoria
Province: B.C.
Name of Brokerage: CBRE Vancouver
A 16-unit rental complex in Victoria’s Fairfield neighbourhood has sold for $2.37 million, according to CBRE Vancouver.
Stanley Apartments is a two-storey character apartment with eight studio units and eight one-bedroom suites. The building was built in 1914 with open concept suites and lofted bedrooms. The property is fully tenanted with a net operating income of $83,166. Rents are presently under market averages. The corner property in Cook Street Village is located in one of the strongest residential markets in Canada. The Canadian Mortgage and Housing Corporation places the Cook Street Village’s vacancy rate at 0.9 per cent.
Stanley Apartments is located at 340 Linden Ave., Victoria.
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