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Era
Uses: condo, commercial
Address: 726-746 Yates Street
Municipality: Victoria
Region: Downtown Victoria
Storeys: 15
Condo units: 157 (loft, 1BR, 2BR, sub-penthouse)
Sales status: sold out / resales only
The 15-storey Era condo and ground floor commercial tower is located in the 700-block of Yates Street. The pro... (view full profile)
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[Downtown Victoria] Era | Condos | 15-storeys | Built - completed in 2015

Condo Commercial

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1293 replies to this topic

#1261 MarkoJ

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Posted 20 July 2018 - 04:28 PM

8th floor, no parking  1bed 1 bath, 534 sqft asking for 419k.....

My listing :)


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Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2019 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1262 zoomer

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Posted 26 July 2018 - 03:28 PM

Good news - both commercial units have "leased" signs in the window today. 



#1263 sdwright.vic

sdwright.vic

    Burnside-Gorge

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Posted 26 July 2018 - 05:59 PM

^I think you meant to put this in the Legato thread?

All spaces in ERA have been leased.
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Predictive text and a tiny keyboard are not my friends!

#1264 zoomer

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Posted 26 July 2018 - 08:20 PM

You are correct!
 


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#1265 ovovov

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Posted 30 July 2018 - 12:33 PM

My listing :)

pending at 405k....


Edited by ovovov, 30 July 2018 - 12:33 PM.


#1266 ovovov

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Posted 10 August 2018 - 08:44 AM

another 2bed 2 bath sold at $800/sqft.



#1267 ovovov

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Posted 11 September 2019 - 10:56 AM

14th floor, asking for $941/sqft without parking... new all time high.


Edited by ovovov, 11 September 2019 - 10:56 AM.


#1268 Mike K.

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Posted 11 September 2019 - 11:05 AM

Yeah, that's high for that building but this is what having that grandfathered AirBnB permit grants you. What's the size of the unit?


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#1269 ovovov

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Posted 11 September 2019 - 11:35 AM

it would be interesting to see the offers~~ buyers buy!



#1270 ovovov

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Posted 11 September 2019 - 12:38 PM

Yeah, that's high for that building but this is what having that grandfathered AirBnB permit grants you. What's the size of the unit?

477 per MLS


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#1271 ovovov

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Posted 01 October 2019 - 03:11 PM

1 bed at 4th floor sold at 393k-seems too be a good deal.



#1272 m3m

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Posted 01 October 2019 - 04:41 PM

Don’t think it has parking though? And it’s sub 500sqft

#1273 ovovov

ovovov
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Posted 03 October 2019 - 11:28 AM

9th floor 1bed with parking pended at 466k,  545sqft==>$855/sqft



#1274 ovovov

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Posted 20 October 2019 - 07:55 PM

pended $890/sqft. on the 14th 


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#1275 ovovov

ovovov
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Posted 31 December 2019 - 10:03 AM

anyone is looking at selling in this building? a senior friend is trying to get into this building.



#1276 ovovov

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Posted 02 January 2020 - 02:20 PM

most units have gone down in paper value. I wonder how it might impact the market price? any insights?

Thanks



#1277 ovovov

ovovov
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Posted 23 January 2020 - 10:47 AM

6th fl, 562 sqft, with a parking spot asking for $852/sqft. or $479,500. 

 

interested to see the final selling price ;)



#1278 ovovov

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Posted 23 January 2020 - 12:34 PM

just run a scenario here:

say 20% down payment with 2.8% 25 yr rate, property tax 183/moth,  monthly utility and fees $270

on the income side, say air bnb it, low season 1800/month High season 4500/month.

 

it works out the net holding cost at $608@ low season

 

At high season, it may make bit of money out of it( yearly expected net about 10k-20k)

 

considering the potential appreciation of the land, and market rate of reit  or cap rate @6%,

 

so it seems make sense to have a box that yield at 15-20% rate of return.

 

thoughts?



#1279 m3m

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Posted 23 January 2020 - 05:33 PM

I'd estimate that your revenues are a bit low.  Demand for airbnb's are high in Victoria as only a handful of buildings are allowed to have them.  A lot of operators leave a lot of money on the table by asking for rates that are too low. 

 

http://insideairbnb.com/victoria  This is a good tool if you're curious about what sort of rates/availability you can attract in various buildings in Victoria.  You can click on individual listings and see their estimated revenues.  

 

By comparison, the rack rates at Parkside Hotel for high season 2019 are as follows:

 

May -  $255

June - $255

July - $305

August - $305

September - $255



#1280 Rob Randall

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Posted 24 January 2020 - 11:53 AM

I find Airbnb demand is crazy high in summer and very slow in winter. You can drop your winter rates all you want but people either want it or they don't. I think there are some costs you haven't factored in, like insurance, wifi and cable. 


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