Beach Drive Apartment Portfolio
$18,700,000
2333-2359 Beach Drive and 2358 Esplanade, Victoria, BC | Oak Bay
Property Overview
Units: 41
Lot Size: 37,604 Sq.Ft. *
Zoning: RM-1HD, RM-2, RM-3
Property Type: Multi-Family
Square footage is approximate.
TROPHY MULTI-FAMILY INVESTMENT OPPORTUNITY
Devon Properties is pleased to present The Beach Drive Apartment Portfolio, a rare opportunity to acquire three premium residential apartment buildings totalling 41 units, located in the highly sought-after Oak Bay neighbourhood in Victoria, BC.
This portfolio is comprised of well-maintained residential apartment buildings featuring lobbies, entry phone systems, resident parking options, and residential & bike storage. Each building offers spacious suites complete with upgraded appliances, private balconies, terraces and patios, and in-suite laundry.
Secured with stable, long-term residential tenancies, The Beach Drive Apartment portfolio presents a cash-flowing investment with the opportunity to grow residential rental income over time through mark-to-market rental upside. Two of three properties are held in bare trust arrangements, with the properties being offered for sale as a single portfolio.
Unit Breakdown
- A. Willowcrest Apartments
- 26 units
- 1 One Bedroom
- 24 Two Bedroom
- 1 Three Bedroom
- 26 units
- B. Surfside Apartments
- 11 units
- 7 One Bedroom
- 4 Two Bedroom
- 11 units
- C. Willowbeach Apartments
- 4 units
- 2 One Bedroom
- 2 Two Bedroom
- 4 units
Building Amenities & Benefits
- Highly sought-after Oak Bay location steps from Willows Beach, with prominent frontage along Beach Drive and Esplanade.
- Stable, long-term residential tenancies; 55+ age requirement in two of the three buildings.
- Two of the three properties are held through bare trust arrangements, with common beneficial ownership across the portfolio. The properties are being offered for sale as a single portfolio.
- Well-maintained buildings with spacious suites featuring updated appliances, private balconies, terraces and patios, and in-suite laundry.
- Opportunity to grow residential rental income over time through mark-to-market rental upside.
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.