Greater Victoria is synonymous with mild weather, beautiful surrounds, ample recreational opportunities …and expensive real-estate. In a region full of $600,000 homes are there opportunities to buy a centrally located house outside of the Westshore for less than $400,000? You bet. In fact several currently on the market are absolute bargains with surprising value for the money.
Below are ten of the least expensive single-family-dwellings currently for sale and listed on the Multiple Listing Service in the urban core of Victoria as of December 1st, 2015.
#10 - $399,000
Address: 1712 Haultain Street | Municipality: Victoria
Bedrooms: 2 | Baths: 1 | Square footage: 1,114
Built in 1925, the tenth least expensive home for sale in Victoria's urban core features two bedrooms and a single bathroom in a 1,114 square foot one-storey-plus-den configuration. Situated in the City of Victoria's Oaklands neighbourhood, the property is walking distance to Hillside Shopping Centre and within easy reach of several bus routes. Upgrades include new flooring, new carpets, new paint and even a new front door. Recently completed front and back decks round out the upgrades of what is arguably a fantastic starter home in a central neighbourhood.
#9 - $394,500
Address: 1465 Bay Street | Municipality: Victoria
Bedrooms: 3 | Baths: 1 | Square footage: 1,434
Number nine on our list packs a punch. At just under $395,000 this 1,434 square foot three bedroom, one bathroom home is close to the Royal Jubilee Hospital in the City of Victoria's Fernwood neighbourhood. Upgrades include new front steps, a newer roof, hot water tank, furnace, fence, floor, and sump pump, and energy efficient thermo-pane windows. Nine-foot ceilings make living spaces feel larger and a fully furnished lower level is a great beginning to what could become a "man cave." Off-street parking for two vehicles and a large yard, complete with a south facing deck accessible from the kitchen, round out this 1914 character home.
#8 - $394,000
Address: 3153 Irma Street | Municipality: Saanich
Bedrooms: 2 | Baths: 2 | Square footage: 1,280
Small but functional, this 1910 home is situated on a large property with a yard that will give a green thumb plenty to do. The location is a short driving distance to both Uptown Shopping Centre and Tillicum Centre, and the nearby Burnside Road corridor affords a short walk to transit. Two bedrooms and two bathrooms are included within the 1,280 square foot layout, together with a large heated garage that can be converted to a studio or a "bachelor cottage suite." Two gas fireplaces are the primary sources of heat throughout, although electric heating is also available. Upgrades include new paint, carpets and landscaping. Appliances are only several months old.
#7 - $379,900
Address: 193 Obed Avenue | Municipality: Saanich
Bedrooms: 2 | Baths: 1 | Square footage: 905
This home's major selling feature is its proximity to the Gorge Waterway -- only a block away. Listed in "as-is" condition, apparently this property is best suited for redevelopment with zoning that permits a secondary suite. The home was constructed in 1937 and features two bedrooms with a single bathroom. If a location near the Gorge Waterway with easy access to a major shopping centre is on your list this is a reasonable contender, albeit most likely as a tear-down.
#6 - $369,800
Address: 4287 Wilkinson Road | Municipality: Saanich
Bedrooms: 2 | Baths: 2 | Square footage: 1,250
If you're looking for a big yard at a budget price, look no further. This 1950 single level rancher is situated on a 9,362 square foot property, literally double the size of an average urban lot. Its location along the Wilkinson Road corridor gives it a rural feel in a country-like setting close to urban amenities. The home includes two bedrooms and two baths and features a detached workshop/garage. Already tenanted, this is also an opportunity to acquire a relatively inexpensive investment property with future development potential.
#5 - $365,000
Address: 1270 Woodway Road | Municipality: Esquimalt
Bedrooms: 3 | Baths: 1 | Square footage: 898
Three bedrooms and one bath are packed into this 1950's bungalow starter home just off Admirals Road in Esquimalt. 898 square feet of living space on nearly 4,300 square feet of property will provide plenty of room for gardening for those so inclined, and a drive-in garage is a definite perk. Situated near CFB Esquimalt and the NADEN dockyard, the location will be a major bonus for someone employed at or near the navy base. "Finishing touches" are required for the downstairs third bedroom, however.
#4 - $365,000
Address: 3458 Bethune Avenue | Municipality: Saanich
Bedrooms: 3 | Baths: 1 | Square footage: 1,190
"The house needs work," according to the REALTOR, but that doesn't mean a buyer can't hold on to it for several years and redevelop the property or put in some TLC in the meantime. This 1925 home consists of two bedrooms and a bathroom on the main floor and a third bedroom/den downstairs. The lot is fairly large at 6,000 square feet and features a quiet backyard with a deck. The location is central with easy access to both Uptown Shopping Centre and Mayfair Shopping Centre.
#3 - $359,900
Address: 1,222 Lyall Street | Municipality: Esquimalt
Bedrooms: 2 | Baths: 1 | Square footage: unknown
Number three on our list is the sole property that did not sell on Citified's May 2015 list of Victoria's ten cheapest homes for sale. And yes, it remains an anomaly still with virtually no description save for a confirmation of two bedrooms and one bathroom, and no, the price has not been reduced. There is a decent sized yard, though, so if the location and the price are right, perhaps this is …the one?
#2 - $339,900
Address: 3345 Cedar Hill Road | Municipality: Saanich
Bedrooms: 2 | Baths: 1 | Square footage: 1,018
"The value is mostly in the land" says it all. If you're looking for nice digs, look elsewhere. If you're looking for redevelopment potential, this might be a great opportunity. Situated near the Cedar Hill Golf Course, the property offers a quiet location near the Shelbourne Street corridor and Hillside Centre. The layout features two bedrooms and one bathroom. And bushes. Lots, and lots of bushes.
#1 - $299,900
Address: 285 Pallisier Avenue | Municipality: View Royal
Bedrooms: 1 | Baths: 1 | Square footage: apparently this home is one square foot
Ta-da! This is officially the #1 least expensive home on the market in Victoria's urban core! For just a hair under $300,000 this 10,000 square foot property can be had with loads of development potential just beyond the View Royal/Esquimalt border near the intersection of Helmcken Road and the Island Highway. Let's be frank, though. This is a disposable home on a valuable lot that can accommodate a "BIG" house, according to the REALTOR. So if it's a tear down you're looking for just on the cusp of the region's urban core, this could be it. Technically speaking you could live in the home but considering the description lists it as only one square foot in size, unless you're Aladdin's Genie looking for new digs this listing might warrant a pass. C
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