for sale...storey building features 11 residential rental suites. the building, including all the...
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FOR SALE
Opportunity Highlights » Turn-key Investment in one of Victoria’s most desired
neighbourhoods
» 9,490 sf lot within walking distance of the beach
» RM3 Zoning
» All suites and building recently updated
Completely restored, fully-leased11-Suite Apartment Building in Victoria’s coveted Oak Bay 2180 Haultain Street, Victoria, BC
NEW PRICE!
Fully Leased
4.37%Cap Rate
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
Completely Restored 11-Suite Apartment Building 2180 Haultain Street, Victoria, BC
Property Information
OpportunityTo acquire a recently updated 11-suite apartment building in Victoria’s desirable Oak Bay neighbourhood.
LocationThe subject property is located along Haultain Street in the northern part of Oak Bay. The property offers a quiet setting while not sacrificing proximity to many services and amenities in the nearby neighbourhoods. Oak Bay draws in many residents due to its desirable neighbourhood feel, as well as the many attractions and services provided immediately within the community. The University of Victoria and Camosun College’s Lansdowne Campus are both approximately a five minute’s drive from the subject property, ensuring that there will always be demand from students looking for off-campus housing. Furthermore, Victoria’s Royal Jubilee Hospital is also approximately a five minute’s drive.
Improvements Built in 1955 and extensively updated in 2018, this three-storey building features 11 residential rental suites. The building, including all the suites, have recently been updated. The following building components were updated:• New Roof• New Windows• New Perimeter Drains• New Boiler in 2007• Easy access to plumbing
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Here is your chance to own a condo-quality rental building in Oak Bay!
The fully renovated suites feature:• Kitchens with quartz countertops• Condo-quality bathrooms• Tile floors in bathrooms and kitchens • Plenty of storage, including a coat closet upon entry• Fire escape on each unit
The suite breakdown is as follows:• 10 x 1-bedrooms• 1 x bachelor
The recent improvements and upgrades provide a low operating cost to the building.
Civic Addresses 2180 Haultain Street, Victoria, BC
Zoning RM3 Zoning
Floor Space Ratio 1.0 FSR
Legal Description
Lot 10 Plan VIP9860 Section 28 Land District 57
PID 005-409-004
Tenure Property to be delivered free and clear of all financial encumbrances.
Gross Taxes $8,450.23 (2018)
Price $3,750,000.00
Please do not disturb tenants. Tours of the property will be arranged for the Buyer
Completely Restored 11-Suite Apartment Building2180 Haultain Street, Victoria, BC
1Willows Beach15 minute walk 2
Oak Bay Avenue5-6 minute drive
4 Royal Jubilee Hospital5 minute drive 5 Oak Bay Rec Centre & Pool
2 minute drive; 9 minute walk
3 Victoria Golf Club7 minute drive
University of Victoria9-10 minute drive6
Imagery ©2018 Google, Map data ©2018 Google 500 m
2180 Haultain StVictoria, BC V8R 2L9
2180 Haultain St
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Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
Completely Restored 11-Suite Apartment Building 2180 Haultain Street, Victoria, BC
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
Completely Restored 11-Suite Apartment Building 2180 Haultain Street, Victoria, BC
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
2180 Haultain Street, Victoria, BC
Rent Roll As April 1st, 2019
1 1-Bdrm $1,550 $18,600 8.91%2 1-Bdrm $1,550 $18,600 8.91%3 1-Bdrm $1,600 $19,200 9.20%4 1-Bdrm $1,600 $19,200 9.20%5 1-Bdrm $1,600 $19,200 9.20%6 1-Bdrm $1,600 $19,200 9.20%7 1-Bdrm $1,650 $19,800 9.48%8 1-Bdrm $1,650 $19,800 9.48%9 1-Bdrm $1,650 $19,800 9.48%10 1-Bdrm $1,650 $19,800 9.48%11 Bachelor $1,300 $15,600 7.47%
TOTAL 11 SUITES $17,400 $208,800 100%
Bachelors 11 Bedrooms 10Total 11
Suite Breakdown
% TOTAL REVENUESUITE TYPE MONTHLY RENT ANNUAL RENT
Studios9%1 Bedrooms
91%
SUITE MIX BREAKDOWN
Studios 1 Bedrooms
Information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice.
Completely Restored 11-Suite Apartment Building 2180 Haultain Street, Victoria, BC
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763
2180 Haultain Street, Victoria BC
Proforma Income Statement For the Year Ended December 31st, 2019
GROSS INCOME ACTUALGross Rental $208,800.00Less Vacancy 0.7% -$1,545.60Parking $3,600.00Laundry $1,800.00
Total Gross Income $212,654.40
EXPENSESOperating Expenses
Taxes $8,450.23Insurance $4,500.00Utilities $12,100.00Management Fees $15,000.00Repairs & Maintenance $8,580.00
Total Expenses $48,630.23 23%
NET OPERATING INCOME $164,024.17
CAP VALUE PRICE PER UNIT
4.37% $3,750,000 $340,909.09
ASKING PRICE
Information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice.
Completely Restored 11-Suite Apartment Building 2180 Haultain Street, Victoria, BC
Although this information has been received from sources deemed reliable, we assume no responsibility for its accuracy, and without offering advice, make this submission subject to prior sale or lease, change in price or terms and withdrawal without notice.
Dan @bcapartmentinsider.com
Dan SchulzPersonal Real Estate Corporation
Chris Winckers
778.828.9763