Legacy Apartment Portfolio 2 Multifamily Properties Offered at $36,810,612 USD in Victoria, BC
INVESTMENT HIGHLIGHTS
- Opportunity to buy the Shares of the Bare Trust Corporations
- Prominent Victoria location on the periphery of the downtown core
- Significant capital upgrades completed at both buildings, with the majority of suites fully upgraded
EXECUTIVE SUMMARY
Rare investment opportunity to acquire two (2) impeccably maintained properties, totaling 137 units. Both buildings have undergone significant capital upgrades, ensuring their modernization. Current rental rates remain approximately 25%-28% below market value, presenting substantial rental income upside. Situated within the City of Victoria Fernwood neighborhood, just south of Victoria’s downtown business core, these properties are located within an upscale residential community, fostering a secure and tranquil rental lifestyle for tenants. The location offers unparalleled accessibility to downtown amenities, by easy walking distance or conveniently located along a primary transit route on the Yates Street corridor, which runs adjacent to both properties.
PROPERTY FACTS
| Price | $36,810,612 USD |
| Price / SF | $326.41 USD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 2 |
| Total Building Size | 112,775 SF |
| Total Land Area | 2.19 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Wedgewood Terrace
1655 Chambers St, Victoria, BC V8T 3J7 |
Multifamily | 57,400 SF | 1964 | $16,239,976 |
|
Royal Arms Apartments
1300 Yates St, Victoria, BC V8S 1Z9 |
Multifamily | 55,375 SF | 1966 | $20,570,636 |
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