Casa Jubilee

$5,550,000
Sold $5,250,000



Description

Casa Jubilee is an exceptionally well maintained 21 unit apartment building with significant cash flow lending a superb cap rate. Centrally located in the heart of the Capital Regional District the Subject Property sits on a well appointed 16,200 sf lot. With an impressive suite mix this opportunity will appeal to investors seeking a secure and stabilized investment asset in one of Canada’s strongest rental markets.

Opportunity Highlights

  • High performing professionally managed apartment building with outstanding cash flow
  • Ideally situated on the Victoria / Oak Bay border, just an 8 minute drive from Victoria’s vibrant downtown core
  • Immediate access to public transit on Oak Bay Avenue and Fort Street
  • Within walking distance to many tenant-friendly amenities including the Royal Jubilee Hospital and Oak Bay Village shops & restaurants
  • Recent capital improvements include high efficiency wall mount Viessmann Boiler and hot water storage tank
  • Spacious units feature modern finishes and balconies
  • Option for units to come furnished providing additional cash flow
  • Property comes with attractive assumable financing

Victoria

  • The Greater Victoria region is home to 350,000 residents composed of 13 municipalities.
  • Oak Bay is home to several popular beaches, most notably Willows Beach, located a 7 minute drive from the Property.
  • Oak Bay is characterized as an affluent neighbourhood with a large number of old style and heritage homes; the average price of a single family home is $1,156,900 (2017).
  • The region features a selection of local restaurants, delis, bistros, and amenities as well as larger national retailers. These are concentrated along Oak Bay Avenue and Fort Street/Cadboro Bay Road.The Property is located a 12-minute drive from the The University of Victoria which boasts 21,000 enrolments.
  • Victoria is the perfect setting for hiking, golfing, cycling, gardening, and kayaking.
  • The mainland is accessible via two ferries, one to Tsawwassen, Vancouver and the other to Port Angeles, Washington, USA

Location

1555 Jubilee Avenue, Victoria, BC, Canada

Attachments

Agent

Patrick McEvay

Vice President

+1 604 998 6056
+1 604 789 0720