789 Blackberry Road
$15,750,000
789 Blackberry Rd, Victoria, BC, Canada | Saanich
Property Overview
Units: 40
Stories: 4
Year Built: 2003
Lot Size: 40,520 Sq.Ft. *
Building Size: 39,328 Sq.Ft. *
Zoning: MFC-CH MULTI-FAMILY COMMERCIAL CHRISTMAS HILL ZONE
Property Type: Multi-Family
Square footage is approximate.
Devon Properties and Colliers International are pleased to present a unique opportunity to acquire a 100% free-hold interest in Christmas Hill – exceptionally situated just north of Uptown in the Christmas Hill development area of Saanich Municipality.
Christmas Hill represents a rare chance to acquire a high performing, 40 unit multifamily asset strategically positioned in one of Greater Victoria’s most established rental markets. Purpose built in 2003/2004 and professionally managed and maintained to an excellent standard, the property offers a compelling blend of stability, scale, and unrealized upside.
The combination of the attractive suite mix, building age, generous unit sizes, and modern in suite amenities places Christmas Hill at a meaningful competitive advantage over both older, dated traditional apartment stock, and newer buildings with significantly smaller floorplans. As a result, Christmas Hill is uniquely well positioned within the Greater Victoria rental market.
Unit Breakdown
- 2 One-Bedrooms
- 31 Two-Bedrooms
- 7 Three-Bedrooms
Building Amenities & Benefits
- Stabilized asset offering reliable cash flow and potential upside from select units currently below market
- Condo quality unit finishes including in-suite laundry, dishwashers, large windows and private balconies
- Professionally managed by Devon Properties for the same ownership since 2013
- Residential units separately metered with baseboard heating
- One-, two- and three-bedroom units averaging 983 SF provide opportunity to maximize rents
- Large, prominently situated lot located adjacent to the Patricia Bay Highway and McKenzie Avenue, offering convenient access to all areas of Greater Victoria
- Replacement of common carpets, paint and LED lighting (2025)
- Building is fully sprinklered
- Select ground floor units include private garden areas
- New hot water tank and pressure reduction valve (2025)
- 54 on-site surface parking stalls
- 24 resident storage units
- Freedom Mobile roof antenna generates an attractive, care free income. A renewal contract is currently being renegotiated with the addition of more antennas.
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.