1333 Pandora Av 14 Unit Apartment Building $2,364,574 USD ($168,898 USD/Unit) 3.82% Cap Rate Victoria, BC V8V 3R6
INVESTMENT HIGHLIGHTS
- 14-unit apartment complex
- 5 units recently renovated
- blocks from Downtown Victoria in the desirable rental neighborhood of Fernwood
EXECUTIVE SUMMARY
1333 Pandora Avenue is a transit-oriented 14-unit apartment complex located blocks from Downtown Victoria in the desirable rental neighborhood of Fernwood. This 3-storey building has been well maintained and 5 units have been recently renovated. Tenants benefit from an extremely central location, steps from schools, parks, and a full range of amenities. Low vacancy rates (0.9% in 2023 - CMHC) and in place rents that are well below market value provide investors significant income upside on tenant turnover.
PROPERTY FACTS
| Price | $2,364,574 USD |
| Price Per Unit | $168,898 USD |
| Sale Type | Investment |
| Cap Rate | 3.82% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 10,104 SF |
| No. Stories | 3 |
| Year Built | 1976 |
| Parking Ratio | 1.98/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | $1,030 USD | - |
| 1+1 | 8 | $1,102 USD | - |
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Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (76)
Bike Score®
Biker's Paradise (94)
ZONING
| Zoning Code | R3-2 |
