Royal Arms
1300 Yates Street

FOR SALE

Royal Arms | 1300 Yates Street, Victoria 

Offering Overview

Cushman & Wakefield ULC (“CW”) is pleased to present the investment market with the exclusive opportunity to acquire a 100% freehold interest in 1300 Yates Street, Victoria, BC (the “Property”). Commonly known as Royal Arms, the Property is a 77-suite, four-storey wood frame apartment building situated on a large 1.06-acre corner lot at Yates Street and Fernwood Road in Victoria’s Fernwood neighbourhood.

Constructed in 1966, Royal Arms comprises approximately 46,416 square feet of net rentable area across 7 bachelor, 60 one-bedroom, and 10 two-bedroom suites, with an average suite size of over 600 square feet. Significant building upgrades have been completed in recent years, including the addition of an authorized rooftop unit, new balcony railings and membranes, double-pane windows throughout, and cosmetic upgrades throughout building common areas. In addition, 62 of the 77 suites (80%) have been fully renovated. The Property also offers 58 on-site parking stalls and 68 storage lockers.

Current in-place rents average $1,724 per month, or approximately $2.86 per square foot, providing a significant mark-to-market upside opportunity on the unrenovated suites. Royal Arms offers extremely attractive assumable financing in the amount of ~$16.2 million at an interest rate of 3.85% until June 2030. The in-place financing presents a rare combination of healthy leverage, a below-market interest rate with term remaining, and a significant spread between the financing rate and the going-in capitalization rate.

Investment Highlights

•  Thoroughly renovated & meticulously maintained 
• ~80% of suites fully renovated with upgrades on key building systems
• Significant mark-to-market upside potential on unrenovated suites
• Priority Growth Area with potential max density of 2.75 FAR
• Share Sale Structure
• Attractive assumable CMHC financing at 3.85% until June 2030

For More Information, please contact a member of the exclusive property advisors.

>>>Brochure available for download on the top right of this page