1321 Fernwood Road – Vacant 8-Plex
Opportunity to acquire a fully vacant eight-unit multifamily asset, ideally situated in the heart of Victoria at the convergence of Rockland and Fernwood.
Building
Asking Price: $2,400,000
Avison Young is pleased to present the rare opportunity to acquire 1321 Fernwood Road, a strategically located fully vacant 8-unit rental apartment building in Victoria, BC.
Positioned on the east side of Fernwood Road, between Johnson Street and Pandora Avenue, the property sits at the southern boundary of the Fernwood neighbourhood and is adjacent to the Rockland neighbourhood and Downtown Victoria. The site offers a quieter residential setting while remaining directly connected to Victoria’s most vibrant, amenity-rich neighbourhoods.
Built in 1972, this two-storey walk-up building consists of eight two-bedroom and one-bathroom suites, each with independent exterior access. The property offers an outdoor covered walkway for entry to the suites, juliet balconies, rear surface parking lot, common laundry facilities, and a basement-level community room with a two-piece washroom and mechanical room (inclusive of a sump pump).
Each suite is separately metered for hydro (100 amp service) and heated by electric baseboard perimeter heaters. Electricity to the building is provided by a main 400-amp service located in the electrical room. There are two additional house panels and a separate meter serving the base building. The building is serviced by two domestic hot water tanks with two expansion tanks and one circulation pump. The fire protection and alarm system was recently upgraded, and the asphalt roof is thought to have been replaced circa 2016.
In-suite improvements are of varying age and condition, with some work and upgrades required. The subject property represents a very unique opportunity to complete additional upgrades and improvements while the building is vacant and re-tenant following.
