Peatt Road, Langford, BC

Asking Price: $3,075,000

Avison Young is pleased to present this rare revenue opportunity in the heart of Langford at 2645 and 2647 Peatt Road, a strategically located fully leased 8-unit rental townhouse complex completed in 2011 and recently renovated (all but two suites).

Centrally located on Peatt Road, the property is within walking distance of downtown Langford, a vibrant community bustling with shops and restaurants. Residents in this neighbourhood benefit from it’s close proximity to transit, schools, amenities, and recreational activities. The OCP designates the Property as “Downtown” allowing for 28-30 storeys upon redevelopment.

The two-storey walk-up buildings consist of eight (8) two-bedroom, one-bathroom suites ranging in size from 820 to 857 square feet. Each of the suites benefits from the convenience of its own in-suite laundry and exterior access. The property offers a rear surface parking lot comprised of 10 stalls, large storage lockers for residents, and two enclosed garages rented separately. Six of the eight suites have undergone renovations throughout featuring laminate flooring, fresh paint, a new kitchen and bathroom equipped with quality cabinetry finishes, quartz countertops, and new appliances. The building also benefits from a new sprinkler system and the exterior was recently painted along with a refresh of the landscaping. 

• Address: 2645 & 2647 Peatt Road, Victoria, BC
• PID: 000-031-844
• Legal Description: Lot 1, Section 109, Esquimalt District, Plan 23389, Except Part in Plan VIP88755
• Lot Size: 8,147 SF
• Parking: 10 stalls + 2 enclosed garages
• Unit Mix: Eight (8) 2-bedroom suites
• Zoning: RM7A
• NOI: $161,170
• Year Built: 2011
• Cap Rate: 5.25%