Devencore Realty Victoria Ltd.

250-382-3400 |

SOLD! 2705 Cook Street

Devencore Victoria is pleased to announce the sale of Fairhill Apartments located at 2705 Cook Street in Victoria. A 16-unit rental apartment building centrally located on the northeast corner of Hillside Avenue and Cook Street in the Oaklands neighbourhood. The site is 10,377sf in size and the building was constructed in 1946 with 9 one-bedroom suites and 7 two-bedroom suites, as well as 7 parking garages. Rents are well below market offering the purchaser extensive rental upside over time. It was a multiple-offer scenario and was purchased by a well established local investor for $3.3 Million ($60,000 per room, $206,250 per unit, 2.31% cap rate), repesented by Dave Bornhold. For additional information, please contact Amanda Neal, representative of the Seller in this transaction.