- For Sale $10,000,000
- Property Type Other
- Property Size 34,611 SF
- Units 36
- Date Updated Jul 1, 2026
Description
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.
Highlights
- Comprehensive capital improvement program completed, including 44% of total suites being fully renovated
- Densification opportunities under the current zoning and OCP
- Expansive 34,611 sf (0.79 acre) site offering significant land value and future development potential
- Held in a bare trust - PTT savings
- Located in a high-growth neighbourhood with multiple nearby development approvals signalling strong long-term area momentum
- Strategically positioned adjacent to the Gorge Shopping Centre, with close proximity to Tillicum Centre, Uptown Shopping Centre, the Gorge Waterway, transit, parks, and greenspace
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Contacts
Avison Young
Avison Young
Avison Young - Vancouver
Avison Young
