Fern Oaks Manor - 625 Fernhill Road
Esquimalt, BC
FOR SALE
Property details
- Lot size 31,700 sf
- Zoning RM-4
- Land use designation OCP - Medium Density Residential FAR of up to 2.0, and up to 6-storeys in Height
- Year built 1972
- Storeys 4
- Units 42
- Parking 44
Opportunity
The Avison Young Multi-Family Team is excited to market for sale Fern Oaks Manor, located at 625 Fernhill Road, Esquimalt, BC (the “Property”). Fern Oaks Manor is a well-maintained 42-unit rental apartment building with suites partially upgraded upon turnover, presenting a rare value-add opportunity in the heart of Esquimalt. The Property offers reliable in-place performance with clear upside through continued renovation of remaining units and common areas. Directly connected to Esquimalt Road and across from top amenities, this asset combines stability with significant potential for income growth in one of BC’s strongest and fastest-growing rental markets.
Highlights
Centralized location in the heart of Esquimalt steps away from top amenities
Attractive one- and two-bedroom suite mix
Three ancillary income sources from parking, storage lockers, and laundry
Quality units offering significant value-add potential
Well-maintained asset with a history of thorough management
34 out of 42 suites (81%) partially upgraded upon turnover
Roof replaced in February 2020 with a 2-ply torch-on membrane
Hydraulic elevator system upgraded
New breaker panels in each suite
Boiler and hot water tank replaced in June 2019