A circa-1913 character property reimagined as three self-contained suites — earning about $9,800 a month (as per seller) — on a rare ~15,000 sq ft GRD-1 lot in walkable North Jubilee. Income today, options for tomorrow.
This is two opportunities in one title. Today it runs as a cash-flow-positive, fully tenanted property: three suites, seven bedrooms, three kitchens and six off-street parking spaces, steps from Royal Jubilee Hospital, Camosun and the Fernwood and Haultain Corners villages (Walk Score 100). Live in one suite and rent the others, house extended family, or simply hold it.
Beneath it sits the land. At roughly 15,000 sq ft (100 × 150, south-facing), the lot is close to four times a standard Victoria parcel and zoned General Residential District 1 (GRD-1). Per the seller’s discussions with the City of Victoria and a development advisor, that opens a range of future possibilities — from a house-plex to townhomes to subdivision — all potential, buyer to verify. Income while a plan takes shape.
“A Lady with a past, and a rich and varied future — income today, on land with room to grow tomorrow.” Marilyn Ball PREC
A cinematic video walkthrough, plus a 3D Matterport tour of each of the three suites.
The property lives as three self-contained suites — seven bedrooms and three kitchens in all — generating roughly $9,800/month in gross rent (as per seller). Hold it, live in one suite and rent the rest, or house extended family across the three.
A carved-wood entry, 13-foot coffered ceilings, original stained and leaded glass and oak-over-fir floors set the tone; the main suite’s 2022 kitchen (by Michelle Matte Interiors) adds a gas range and quartz island. Period craftsmanship, livable today.
The home sits on roughly 15,000 sq ft (100 × 150, south-facing) — close to four times a standard Victoria lot — zoned General Residential District 1 (GRD-1). Land like this, this close to the core, rarely trades.
The original home: a carved-wood entry, a 13-foot coffered ceiling and medallion, stained-glass bay windows and oak-over-fir floors, paired with a 2022 designer kitchen (gas range, quartz island). Bedrooms on the main and upper levels.
An attached suite added in the 1950s: high ceilings, a picture rail and fireplace, an eat-in kitchen and two bedrooms above with built-in storage — a comfortable, self-contained rental.
Full of woodsy character: a glassed conservatory with windows on three sides, wood-panelled rooms, a kitchen with a salvaged-marble counter and a clawfoot-tub bathroom. Non-conforming, buyer to verify.
Figures are illustrative, calculated from the $1,895,000 list price and the seller’s stated gross income of $9,800/month. They are not a cap rate and exclude operating expenses, vacancy, taxes and financing. Full financials are available on a signed NDA. 2025 taxes were $8,292; the 2026 BC assessment is $1,607,000. Buyer to verify all information and satisfy themselves.
8–10 townhouses sited within the original lot, up to three storeys each.
A multi-family condominium or apartment rental building.
Move the existing house to one side and build a second dwelling on the open half, with potential for subdivision.
Subdivide into two standard lots and build new homes, with additional infill carriage units.
Hold the house as a cash-flow-positive rental while a plan takes shape.
Other options, to be explored and determined by the buyer.
General Residential District 1 allows a diversity of forms — house-plex, house conversions, three-storey townhouses, even a four-storey apartment building — at up to a 1.6:1 floor-space ratio and 14 m height, without rezoning (per the seller). On ~15,000 sq ft, that is roughly 24,000 sq ft of buildable area, and the lot is nearly four times the zone’s minimum size.
The home has character value but is not on the Heritage register — which, a City of Victoria planner noted in April 2026, makes it a candidate for Heritage Conserving Infill. A new owner may also apply to the City for a heritage restoration grant.
These options reflect the seller’s discussions with the City of Victoria planning department and a development advisor. They are possibilities only — not approvals or entitlements. Permitted forms, floor-space ratios and timelines are subject to City review and the current zoning bylaw. Buyer to verify all information and satisfy themselves.
Three tenanted suites earn about $9,800/month (as per seller) while you hold a ~15,000 sq ft GRD-1 development lot. Most listings give you one or the other.
Typical: a holding property with no cash flow, or income with no room to grow.
Carved-wood ceilings, original stained glass and a 2022 designer kitchen — period craftsmanship you can’t replicate in new construction.
Typical: a tear-down with nothing worth keeping.
Walk Score 100 on the Oaklands–Fernwood border, steps from the hospital, college and two village high streets, with strong transit.
Typical: development land on the city’s edge, far from amenities.
Showings are by appointment and access is limited — please do not disturb the tenants. Send a note and you’ll hear back the same day, with financials available on a signed NDA.
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.