Overview
Casa Jubilee is a well-maintained four-storey 21-suite rental apartment building located in beautiful Victoria, BC, less than two blocks from the Royal Jubilee Hospital near the boundary with Oak Bay, just south of the intersection of Fort and Richmond Streets.
Improvements
Constructed in 1969 and improved on a 16,200 SF lot, the property features a great suite mix of oversized floor plans including 6 one-bedroom + dens, 7 two-bedrooms, 7 three-bedrooms and 1 bachelor unit. There are three suites on the main level, and six suites per floor on the upper three levels.
Other highlights include attractive and expansive common areas such as a welcoming lobby, laundry facilities, storage lockers and bicycle room. The building is serviced by a KONE 1500-lb hydraulic elevator and features 23 parking stalls.
Recent capital improvements consist of roof replacement in 2010, and a new Weisman boiler installed in 2015.
Location
1555 Jubilee is situated on the east side of Jubilee Avenue between Oak Bay Avenue and Leighton Road. The surrounding area earns a WalkScore of 74, and is described as “very walkable, so most errands can be accomplished on foot.” Conveniently located between the Jubilee Hospital and Oak Bay Avenue shopping, Victoria’s two main universities are also in close proximity.
The area is well-serviced by multiple transit routes within easy walking distance of the subject property; notable shopping in the area includes Save-On Foods, Shoppers Drug Mart, and The Red Barn Market, as well as many other medical, specialty and service amenities.
Suite mix
No. units | Average size | Average rent | |
---|---|---|---|
Bachelor | No. units1 | Average rent$690 | |
1 bedroom + den | No. units6 | Average rent$1,307 | |
2 bedroom | No. units7 | Average rent$1,287 | |
3 bedroom | No. units7 | Average rent$1,726 |
Financials
Financing | Treat as clear title. | |
---|---|---|
Assessment 2020 | Land Building Total | Land$2,754,000 Building$3,204,000 Total$5,958,000 |
Taxes 2020 | $30,135 | |
Income and expenses | Gross income Vacancy Effective gross Operating expenses Net operating income | Gross income$370,297 Vacancy(3,555) Effective gross$366,742 Operating expenses(120,629) Net operating income$246,113 |
Notes | Contact listing agent for more information. |
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Tim Sommer
Personal Real Estate Corporation
(Cushman & Wakefield)
tim.sommer@cushwake.com
(250) 410 3005
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3
Mortgage calculator
Contact
Mark Goodman
Personal Real Estate Corporation
mark@goodmanreport.com
(604) 714 4790
Tim Sommer
Personal Real Estate Corporation
(Cushman & Wakefield)
tim.sommer@cushwake.com
(250) 410 3005
Goodman Commercial Inc.
560–2608 Granville St
Vancouver, BC V6H 3V3