Victoria Homes For Sale

Description

Rare opportunity with this charming rancher located in Victoria just 300ft from Oak Bay. Level 50’x106’ property backing into Redfern park. Close to Red Barn Market, Xmas Truck Parade/events, Oak Bay Rec, Save-on-Foods and within walking distance to excellent schools such as Willows, Monterey and Oak Bay High. Great long term rental holding property with zero vacancy, or development opportunity. No easements or covenants on title to restrict building footprint or development. With a single month to month tenancy paying $40,800+ utilities annually (eligible for 3.5% rental increase), this is a secure income stream that doesn’t rely on unauthorized suites or conflict management between multiple tenants. With the land’s tax assessed value alone surpassing $1M, the upside potential is significant. Upgrades in 2021 to support longer term rental viability, see supplements for list of changes. This lot and location doesn't come up often at this price, book your showing today!

Listing Provided By

Alexandrite Real Estate Ltd.