Park Royal Manor
Victoria, BC
FOR SALE
Property Details
- Lot Size 21,600 sf (0.5 acres)
- Year Built 1965
- Storeys 4
- Rental Units 33
- Parking 24 surface and covered stalls
- Pricing Guidance $10,250,000 ($310,606 price per door)
- Cap Rate 4.5%
Opportunity
Avison Young’s Multi-Family Team is pleased to present Park Royal Manor, a rare value-add opportunity featuring a 33-unit rental apartment building located at 1060 Pakington Street in Victoria, British Columbia (the“Property”). The Property is a well-maintained multi-family asset offering a strong going-in yield for investors, along with significant upside in rental revenue upon unit turnover.
Ideally situated in Victoria’s inner core—minutes from Downtown Victoria, steps from Cook Street Village, and surrounded by premier amenities—Park Royal Manor represents a unique investment opportunity with substantial potential to capitalize on one of Canada’s most desirable rental markets.
Investment Highlights
Centralized location in Fairfield, steps away from Cook Street Village
Attractive mix of bachelor, one-, and two-bedroom suites
Three ancillary income sources from parking, storage lockers, and laundry
Well-maintained units offering significant value-add potential
Significant capital improvements made by the current owner
