We are thrilled to offer a rare investment opportunity: a detached property in the Oaklands neighbourhood of Victoria, complete with a 2-bedroom ground floor suite, all for under $850,000! The property is located just 8 mins from downtown and is a similar style to the ‘Vancouver Special’ found in the Lower Mainland. It is in dated condition and has many belongings left inside, making it ripe for revitalization with your renovation expertise. We see 3 paths to profit: clean the property out and sell it on the MLS as-is, renovate the property to rental standards and hold the property as a 2-unit rental or renovate the property and sell it as a modern detached home with mortgage-helper suite. Victoria detached properties at this price point are a rarity, especially those with an existing suite. This Cedar Hill home offers a unique blend of location, style, and potential that savvy investors won’t want to miss!

We are selling our assignable purchase contract.

Closing is Aug 30, 2024
*The Buyer and Seller agree that the Seller may leave their furniture and belongings in the property upon closing.*

• 2-storey split level
  • Please note: BC Assessment describes the property as 1-storey with basement, but we believe it is best described as a 2-storey 
• 5 bedrooms
  • 2 bedrooms located on the main floor
  • 3 bedrooms located on the second floor
• 2 bathrooms
  • 3-piece located on the main floor
  • 5-piece located on the second floor
• Built in 1977
• Interior square footage: 2165 sq ft (as per BC Assessment) 
• Main floor: 1076 sq ft (as per BC Assessment)
  • Features 2 bedrooms, 1 bathroom, kitchen and living room
  • 2 entrances, 1 in the front and 1 on the side of the property
• Second floor: 1089 sq ft (as per BC Assessment)
  • Features 3 bedrooms, 1 bathroom, kitchen, living room and dining room
  • There is mold in 1 of the bedrooms, the bathroom and living room (as per Seller)
• All appliances will be included
  • There is currently no dishwasher or dryer
• Wood fireplace located in the living room
  • Not used by Seller
• Flooring: carpet, vinyl sheet and parquet
• Electric HWT, age unknown (as per Seller)
• Electric baseboard heaters
• Windows are double pane vinyl, age unknown
• Roof was replaced 10-years-ago  (as per Seller)
• Property is partially fenced
• Laneway along the side of the property
  • Parking pad located off of this lane and fits 1 vehicle
• Carport has been enclosed and used as storage
• Stucco siding
• Balcony located in the front of the property and was replaced in the past 5 years (as per Seller)
• Seller assumes that there is natural gas service available to the property but does not know for certain (Buyer to verify)
• On municipal water and sewer
• Annual property tax is $3,093.58 per this online calculator: HERE
• Lot size: 5123 sq ft (as per BC Assessment)
• Lot dimensions: 47 x 109 ft (as per BC Assessment)
• Zoning: R1-B Single Family Dwelling (as per THIS zoning map)
  • Permitted Uses: Single family dwelling with no more than 1 of the following accessory uses: Secondary suite; or Garden suite or Roomers and/or Boarders up to a maximum of 4 – HERE