Condo in Downtown Victoria

[Erika Holmes]

Investment Info:

Condo buy & hold investment.

Purchase price: $290,000

First property I purchased on Vancouver Island, in the heart of Downtown Victoria. This "district" area was called Harris Green Village, which is seeing a tremendous influx of commercial development. This condo building will most likely be bought and torn down in the next ten years (wood structure, 4 story, 1995 build), but until then I have great tenants in the unit and it cash-flows very nicely since I was able to purchase it right before condo prices saw roughly a 20% appreciation.