1165 Yates Street
$11,500,000
1165 Yates Street, Victoria BC | Fernwood
Property Overview
Units: 44
Stories: 4
Year Built: 1969
Lot Size: 28,745 Sq.Ft. *
Building Size: 34,588 Sq.Ft. *
Zoning: R3-1 Multiple Dwelling District
Property Type: Multi-Family
Square footage is approximate.
Devon Properties and Avison Young Victoria are pleased to present the rare opportunity to acquire The Haida Apartments, a strategically located 44-unit rental apartment building located at 1165 Yates Street in Victoria, BC.
Positioned in the sought-after Upper Yates Street area of Fernwood, the property enjoys a prime location that offers both exceptional accessibility and a desirable residential setting. Nestled just outside the downtown core, The Haida Apartments provides residents with a quieter living environment while maintaining direct access to Victoria’s most vibrant and highly amenitized neighbourhoods, including Downtown Victoria, Fairfield, and Rockland.
This four-storey wood-frame building comprises primarily large one-bedroom suites, with in-place rents below market, presenting rental upside on unit turnover and additional income potential through unit renovations and common area upgrades. The property’s strong walk, bike, and transit scores of, underscore its unmatched connectivity to grocery stores, shopping centres, restaurants, parks, and cultural attractions.
The Haida Apartments represents a stable, well-maintained investment with consistent occupancy, proven income performance, and substantial potential for value enhancement in one of Victoria’s most sought-after rental markets.
Unit Breakdown
- 1 Bachelor
- 42 One-Bedrooms
- 1 Two-Bedroom
Building Amenities & Benefits
- Large ~28,745 sf lot, with direct access from Yates Street and View Street
- Situated in the sought after Upper Yates Street area of Fernwood, Bordering Victoria’s downtown core, Fairfield, and Rockland neighbourhoods
- In place below market rents provide upside potential upon unit turnover
- Opportunity for additional rent optimization through unit and building upgrades
- 33 surface parking stalls plus on site storage lockers and bike storage
- Consistently high occupancy with below average vacancy rates and steady rental income
- Residential units separately metered for hydro with heat and hot water paid by Owner
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.