Gorge Terrace

Investment Overview

The Avison Young Multi-Family Team is pleased to present the opportunity to acquire Gorge Terrace, a thoughtfully upgraded and exceptionally maintained 36-suite rental apartment building situated along the established Gorge Road corridor (the “Property”).

The Property sits on a 34,611 sf site and offers a desirable suite mix of studio, one, and two bedroom suites. Current ownership has made significant capital investments of approximately $490,000 since 2021 which includes comprehensive exterior improvements and full interior renovations on sixteen (16) suites.

The Property represents a rare opportunity to acquire an income-generating multi-family asset with significant upside potential in a resilient Vancouver Island market. Gorge Terrace offers the buyer an opportunity to renovate and re-rent twenty (20) suites at market rents.

Investment Highlights

• Strategically positioned adjacent to the Gorge Shopping Centre, with close proximity to Tillicum Centre, Uptown Shopping Centre, the Gorge Waterway, transit, parks, and greenspace
• Located in a high-growth neighbourhood with multiple nearby development approvals signalling strong long-term area momentum
• Held in a bare trust - PTT savings
• Comprehensive capital improvement program completed, including 44% of total suites being fully renovated
• Expansive 34,611 sf (0.79 acre) site offering significant land value and future development potential
• Densification opportunities under the current zoning and OCP