What should buyers check first on this listing?

Start with price, location, property type, land or strata context, condition, schools/transit, recent comparable sales and carrying costs; if redevelopment or multiplex potential matters, also review zoning, lot size, servicing and municipal rules.

Why does this listing matter to local buyers?

A listing should not be judged only by photos and asking price. It should be compared within Victoria, the neighbourhood, similar supply, transit, schools, carrying costs and future liquidity.

Can this page confirm redevelopment or multiplex potential?

No. This page can help with initial screening, but buyers must verify zoning, lot size, frontage, servicing, trees, slope, BC Assessment, title and municipal permit requirements.

Can AI analysis replace professional advice?

No. AI analysis is for faster context and market screening; final decisions should still rely on a realtor, lawyer, inspection, financing, tax and municipal due diligence.

1120 Caledonia Ave

Victoria, British Columbia · Neighbourhood: Downtown

C$2,100,000

Local Decision Guide

How should buyers evaluate 1120 Caledonia Ave?

Start by reading this listing in its Victoria Downtown context: price, property type, land or strata setup, age, transit, schools, similar supply, carrying costs and resale liquidity should be considered together, not just photos and asking price.

What should be checked before writing an offer?

Recent comparable sales, competing active listings, days on market, price changes and current market pace.
Property condition, inspection risk, insurance, financing, tax, title and any disclosure documents.
For strata homes, review minutes, contingency reserve, special levies, rental rules and pet bylaws.

How do buyers find land with rebuild or multiplex potential, what should they watch, and how can returns be improved?

To find land with this potential, start with zoning, lot size, frontage, lane or driveway access, servicing, trees, slope, basement conditions, BC Assessment, title restrictions and municipal permits. The highest-return plan is usually not simply the maximum unit count; it is the best balance between approval risk, construction cost, rent or resale pricing, floor-plan efficiency, parking and holding period.

What does this page not replace?

It does not replace a realtor, lawyer, inspector, mortgage broker, insurance review, tax advice, strata documents, BC Assessment or municipal records. Use it to form better questions, then verify independently.

For sale

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Remarks

Exceptional investment opportunity in the heart of Victoria. This well maintained 7 suite revenue property offers strong cash flow, an impressive 5.7% cap rate, and outstanding long term holding potential in one of Victoria’s most consistently high demand rental markets. Pride of ownership is evident throughout, with clean, updated, and exceptionally well maintained suites offering bright living spaces, well kept kitchens and baths, irrigated yard space, shared bike storage, common coin operated laundry for tenants, and owner/caretaker utility and storage areas. Meticulously maintained over the years, this is a true turnkey investment property with no known deferred maintenance, excellent overall condition, and strong in place tenancy. A rare and valuable feature, Suites 6 and 7 are detached from the main building, creating ideal flexibility for owner occupancy, caretaker accommodation, extended family, guest use, or premium rental opportunities. This unique configuration provides versatility rarely found in multi unit investment properties. Ideally located just minutes to Downtown Victoria, Fernwood, Hillside Shopping Centre, restaurants, parks, transit, schools, and major commuter routes, this central location continues to support strong tenant demand and long term rental stability. An exceptional opportunity to acquire a quality multi unit investment property in a prime Victoria location, offering strong existing income, excellent condition, and long term investment appeal. (id:56153)