William Wright Commercial is pleased to announce the successful sale of 705 Johnson Street in the heart of downtown Victoria, BC. The subject property comprises of a 3-storey mixed-use building featuring two ground-floor retail spaces and 44 single-occupancy residential units above, totalling +/- 18,316 SQFT on a +/- 7,284 SQFT lot. The stabilized NOI of approximately $250,000 represents a cap rate of +/- 9.3% with opportunity for further appreciation on income.
William Wright Commercial represented the Purchaser in this transaction.
Sold
705 Johnson Street, Victoria,
Canada
± 18,316 SQFT
Multifamily
$2,670,000
This communication is not intended to cause or induce breach of an existing agency agreement. E&OE: All information contained herein is from sources deemed reliable, and have no reason to doubt its accuracy; however, no guarantee or responsibility is assumed thereof, and it shall not form any part of future contracts. Properties are submitted subject to errors and omissions and all information should be carefully verified. All measurements quoted herein are approximate.
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