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VICTORIA BC | 58 DELUXE CONDO APARTMENT INVESTMENT OPPORTUNITY

VICTORIA 58  DELUXE CONDO APARTMENT COMPLEX

INVESTMENT OPPORTUNITY

CITY OF LANGFORD IN GREATER VICTORIA, BC

 

Completed in 2011 this six story Concrete High-Rise offers a trouble free, low maintenance  and long lasting rental investment. The building was built to the latest Condominium Standards and has 58 separate titles(land registry strata). Currently operating as rental apartment building.

www.victoriacommercialrealestate.com

TANHILL FLATS

 

All Concrete construction, steel joists, insulated concrete form construction. The Concrete construction provides superior sound proofing insulation and fire safety.

 

Outside hallways, helps with low maintenance costs plus tenants are responsible for their own utilities like heat, light, cable & telephone. All suites have luxury finishes including granite counter tops throughout, including six appliances in each unit. Quality flooring with a combination of ceramic tile in the kitchens. Low operating expenses with outside hallways.

 

Top Floor five units have 13’ ceilings.

 

Suite unit sizes range from 465 sq.ft. to 1080 sq.ft., Suite mix 31 x one bedroom units(15 mini @ 465 sq.ft 16 regular @ 645 sq.ft.) to 17 x two bedroom units 10 x three bedroom units for a total of 58 apartment condo suites. 30% Property Tax Subsidy with Langford ending April, 2021.

 

Superior quality finishing throughout and all suites all have in-unit laundry. Extra Storage lockers are available on each floor outside the suite doors. This Concrete and steel building’s expected life approximately 300 years. Excellent well managed investment rental property investment opportunity. Fully rented with limited turnover as each unit is leased annually with a waiting list. The City of Langford currently has zero percent apartment vacancy.

 

Located Only a few blocked for the Langford Downtown City Core, tenants can walk to shopping, transit, entertainment and popular local restaurants. Only a fifteen minute highway drive to Downtown Victoria, BC.

"TANHILL FLATS"

58 Deluxe Condo Apartments

906 Brock Ave

                 Projected 12 Month Gross Income $758,610.60

( Actual Sept/15 income $63,217.55)

2% vacancy and bad debt  allowance $15,173.00

   Net Gross Income:$743,437.80

       Expenses(2014) $159,051.00

Projected 12 month Net Operating Income: $584,386.60

 

Investment Purchase Price  

@4.75% Cap Rate

$12,302,000.

VICTORIA DELUXE CONDO APARTMENT INVESTMENT

CMHC Insured MTG $7,785,000 @2.65% -10 yr term-30 yr amort.

Mortgage Interest Payable $205,172.64 per annum

 

 

Equity $4,515,000.00

ROI

$584,386.60. minus $205,172.64 = $379,213.96

8.4%

 

Check out my Blog Post on this Investment Opportunity

and other Income Investment Opportunities

 

www.victoriacommercialrealestate.com

 

E&O

Information contained herein are from sources we believe to be  reliable although not guaranteed by RE/MAX Camosun and or Realtor Fred Carver.

 

Fred Carver RE/MAX Camosun

"Selling Victoria Income Properties since 1971"

4440 Chatterton Way

Victoria BC V8X5J2

250-413-7042

www.victoriacommercialrealestate.com

 

VICTORIA 58  DELUXE CONDO APARTMENT COMPLEX INVESTMENT

CITY OF LANGFORD  IN GREATER VICTORIA, BC

 

 

HAVE YOUR BEST YEAR EVER IN 2015 !

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  "Selling Victoria Residential & Income Producing Properties since 1971"

 

Cheers

Fred Carver

Personal Real Estate Corporation

RE/MAX Camosun
Accredited Consultant in Real Estate®

“Recognized by ActiveRain as a 2013-2014 Top Contributor for Real Estate Blogging.”

Direct 250-598-2963   

Over 40 Years Experience selling Real Estate does make a Difference.. call Fred today to Put his 40 years experience to work for You.

4440 Chatterton Way, Victoria, BC V8X 5J2
Calling from Out Of Town? Call Toll Free 1-800-663-2121

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Post Copyright © 2016 By Fred Carver Real Estate Corporation All Rights Reserved

Fred Carver Top Realtor Victoria BC

VICTORIA BC | 58 DELUXE CONDO APARTMENT INVESTMENT OPPORTUNITY
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VICTORIA 58 DELUXE CONDO APARTMENT COMPLEX INVESTMENT OPPORTUNITY CITY OF LANGFORD IN GREATER VICTORIA, BC Completed in 2011 this six story Concrete High-Rise offers a trouble free, low maintenance and long lasting rental investment. The… more