505 Su’it Street
$9,950,000
505 Su'it Street, Victoria, BC, Canada | Fairfield
Property Overview
Units: 34
Stories: 4
Year Built: 1966
Lot Size: 25,970 Sq.Ft. *
Zoning: R3-AM-2: Mid-Rise Multiple Dwelling District
Property Type: Multi-Family
Square footage is approximate.
Devon Properties is pleased to present a unique opportunity to acquire a 100% interest in Fairview Manor – an exceptionally located multi-family investment offering situated in the heart of Victoria’s highly coveted Fairfield neighbourhood. Comprising 34 oversized rental units, Fairview Manor has maintained low vacancy (sub-1.0% since 2023) and consistently rising rent levels. The property presents strong value-add potential, with below-market rents and opportunity for building and unit upgrades upon turnover.
Ideally situated at 505 Su’it Street on the southwest corner of Su’it Street and Fairfield Road, the property enjoys walkable access to several of Victoria’s most desirable urban villages, including Cook Street Village and Ross Bay Village. Fairfield is one of the city’s most established and sought-after rental communities, supported by a vibrant mix of retail, restaurants, parks, beaches, and public transit. Its enduring appeal continues to drive strong tenant demand and consistently low vacancy.
With strong in-place income and clear avenues for future rent growth, Fairview Manor presents a rare opportunity to acquire a high performing asset in one of Victoria’s most established and sought-after rental markets.
Unit Breakdown
- 15 One-Bedrooms
- 19 Two-Bedrooms
Building Amenities & Benefits
- Held in bare trust, which may provide for significant tax savings.
- Large ~25,970 sf corner lot bordering Fairfield Road and Su'it Street
- Excellent suite mix consisting of oversized one- and two- bedroom units
- Residential units separately metered for hydro with heat and hot water paid by Owner
- Value add potential with in place below market rents and unit renovation opportunities
- Desirably located within one of Victoria’s premier rental communities, Fairfield
- 20 onsite parking stalls with additional bicycle & resident storage options
Amenities Map
Dave Craig
Managing broker
Since expanding Devon Properties’ brokerage services, Dave has successfully represented numerous clients in the sale of multi-family apartment buildings, achieving a total sales volume exceeding $240 million since 2019. His diverse network and extensive 25-year background in commercial banking, real estate development, property management, and commercial sales and leasing solidify his reputation as a trusted and reliable multi-family sales representative in the industry.