Victoria Real Estate Voice: VICTORIA BC | 58 DELUXE CONDO APARTMENT INVESTMENT OPPORTUNITY

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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

Find Hundreds of Home For Sale in Victoria BC

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

Fred Carver Top Realtor Victoria BC

Comments

The year is flying by, and the fall is drawing near. This is when it is go time for all those extra sales. Good luck with this one.

Posted by Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA (Winston Realty, Inc.) about 3 years ago

Fred Carver this one looks like a great investment opportunity for sure.

These units have so much to offer, especially with few of them with high ceilings. Not to mention you already have done math for them.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) about 3 years ago

Hi Fred, this looks like a beautiful condo apartment. Hope you get it under contract soon. Best of luck!

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) about 3 years ago

Fred, what a great new listing, and hope you have an investor with cash call you soon! 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) about 3 years ago

Hi Winston Heverly You are correct, keep the pedal to the metal as we head into the Fall season and end the year with many more real estate sales. Great way to start the new year.

Cheers

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 3 years ago

Hi Praful Thakkar This Condo Apartment investment offer a great return for any investor, plus it has a latent value with 58 individual titles to see each unit.A great option to sell each condo individually in the coming years. 

Cheers, have a fun and successful day.

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 3 years ago

Hi Nestor & Katerina Gasset This Victoria Condo apartment complex is truly a deluxe investment opportunity for any sophisticated Real Estate investor.

Cheers. have a fun and successful weekend!

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 3 years ago

Hi Joan Cox Thanks, we have a apartment investor coming from Vancouver next week to see this building. It really is a great investment, the owner builder has built the Concrete & Steel condo apartment building to have a very low annual operating costs.

Cheers, have a fun and successful weekend Joan

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) about 3 years ago

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