Wedgewood Terrace | 1655 Chambers St
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Wedgewood Terrace 1655 Chambers St 60 Unit Apartment Building $16,206,872 USD ($270,115 USD/Unit) 3.66% Cap Rate Victoria, BC V8T 3J7
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
Opportunity to purchase this 60-suite, four-storey, wood frame apartment building was constructed in 1964. The gross building area is +/- 57,400 SF. The exterior finish is stucco and brick veneer with decorative wood trim and a mansard roof. The suites are heated by gas fired hot water baseboard with the building serviced by one (1) Montgomery elevator.
PROPERTY FACTS
| Price | $16,206,872 USD | Lot Size | 1.14 AC |
| Price Per Unit | $270,115 USD | Building Size | 57,400 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 3.66% | No. Stories | 4 |
| No. Units | 60 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 0.87/1,000 SF |
| Property Subtype | Apartment | Cross Streets | Pandora Ave. |
| Apartment Style | Mid-Rise | Zoning | R3-2 - Multiple Dwelling District |
| Building Class | C |
| Price | $16,206,872 USD |
| Price Per Unit | $270,115 USD |
| Sale Type | Investment |
| Cap Rate | 3.66% |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.14 AC |
| Building Size | 57,400 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1964 |
| Parking Ratio | 0.87/1,000 SF |
| Cross Streets | Pandora Ave. |
| Zoning | R3-2 - Multiple Dwelling District |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Microwave
- Kitchen
- Refrigerator
- Range
- Carpet
SITE AMENITIES
- Smoke Free
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 45 | - | - |
| 2+2 | 15 | - | - |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (84)
Bike Score®
Very Bikeable (89)
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Wedgewood Terrace | 1655 Chambers St
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