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Pemberton Holmes Ltd.

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1 920 Island Rd
homes for sale · Oak Bay · South Oak Bay
1 920 Island Rd — photo 1 of 40
1 / 40
$1,499,000

1 920 Island Rd

South Oak Bay, Oak Bay · MLS® 1052064

332

1,749 sq ft · Townhouse · Single Family · built 2026 · 16 days on market

listed by Michael Colwill, Alexandrite Real Estate Ltd.

realtor's description

Winner of a 2026 Gold CARE Award, this is the last available home at Willow Lane, a three-home enclave on one of South Oak Bay’s most sought-after streets. This 3-bedroom plus den residence features a dining room with 18-foot ceilings and a built-in wine bar, along with hardwood floors, custom millwork, and glass railings. A multi-panel sliding door opens the main living area fully to a private west-facing garden, giving you easy indoor-outdoor living with great afternoon sun. The primary suite has a 4-piece ensuite with soaker tub and its own west-facing deck for evening sunsets. The home is very private and EV ready. With the other two homes sold, this is the only remaining opportunity to buy at Willow Lane. Book your private viewing today.

property details

similar homes nearby

type
Townhouse, Single Family
bedrooms
3
bathrooms
3
living area
1,749 sq ft
parking
2
year built
2026
strata fee
$280 / mo ($0.16 / sq ft)
strata rules
Pets Allowed With Restrictions
days on market
16
MLS®
1052064

features

  • Central location
  • Other
  • Marine Oriented
  • Family Oriented
  • Pets Allowed With Restrictions
  • Washer

monthly cost

$6,877/mo
Mortgage $6,597 · Strata $280

20% down at 4.44% fixed (Ratehub.ca), 25 years; strata fee from the listing.

estimated payment
$6,597/ monthly
loan $1,199,200
25-year amortization
total interest
$779,992
property transfer tax
$27,980
BC general rate
cash to close
$327,780
down + PTT
total paid
$1,979,192
transfer tax

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent
$3,260/mo
after all costs
−$4,053/mo
cap rate
2.0%
yearly net rent ÷ price

Costs: mortgage $6,597 · strata $280 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 3+ bedroom in Oak Bay: CMHC's average there ($2,909) raised by what new tenants pay against everyone in the Victoria area, then down 6.2% with Victoria's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords
  • Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
  • Rent increases are capped once a year at the province's set amount. gov.bc.ca
  • The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
  • Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

schools

Catchment schools, Greater Victoria School District 61

  • Elementary Margaret Jenkins Elementaryhomes in this catchment

    1.6 km away · 1824 Fairfield Rd, Victoria · 250-598-5191

  • Middle Monterey Middlehomes in this catchment

    500 m away · 851 Monterey Ave, Victoria · 250-598-4589

  • Secondary Oak Bay Highhomes in this catchment

    1.5 km away · 2121 Cadboro Bay Rd, Victoria · 250-598-3361

From the Greater Victoria School District 61's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

Keep private notes and ratings on homes you're considering. (email only) and they follow you to every device.

listed by
Michael Colwill
Alexandrite Real Estate Ltd.
call Michael · 250-889-6582
Powered by: REALTOR.ca

location

South Oak Bay, Oak BayGoogle Maps ↗

the market here

listed now
28 days
median for 19 townhouses for sale; this one 16 days

Townhouses in Oak Bay. Sale prices register 1 to 3 months after a sale closes.

location

South Oak Bay, Oak BayGoogle Maps ↗
Drive times
  • St. Michaels University School - Junior4 min
  • Oak Bay High6 min
  • Royal Jubilee Hospital7 min
  • Camosun College Lansdowne9 min
  • Downtown Victoria12 min
  • YYJ airport39 min
64

Walkability 64/100 · Walkable: many errands on foot

Within a 10 minute walk: 3 cafes, 10 parks and playgrounds, 2 schools, 17 transit stops.

mihom score from OpenStreetMap places, by straight line distance.

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