5 Unit Apartment Bldg For Sale in Great Area

Rare Opportunity to purchase a fully leased mixed use investment property which is centrally located, close to Downtown Victoria, and has undergone recent upgrades. 3185 Quadra St is located in a small commercial node at Quadra and Tolmie; Arctic Spas leases the 2590 sq ft ground floor commercial space on a longterm lease. There is one 1 B/R and two 2 B/R apartments on the second floor, and a 2 B/R + den spacious third floor penthouse with rooftop patio and views of the city in this C1-S zoned property. Arctic Spas' commercial space, comprising an expansive showroom, and the penthouse, were significantly upgraded in 2019, as well as two of the second floor units in subsequent years. There is ample on-site parking, and some rental upside on tenant turnover. Financial information provided to qualified purchasers with signed confidentiality agreement. PLEASE DO NOT disturb tenants. Cap rate as of April 2024 is 4.67%.

ASKING PRICE: $2,595,000.00