Gorge, Saanich · MLS® 1052764
534
2,947 sq ft · 20,233 sq ft lot · House · Single Family · built 1955 · 9 days on market
listed by Paul Askew, RE/MAX Camosun
DEVELOPMENT/INVESTMENT OPPORTUNITY ON THE GORGE WATERWAY! Situated on an expansive 20,223 sqft (104x194) lot with unobstructed panoramic views of the Gorge Waterway, stroll the Gorge Walkway, launch your kayak from Victoria Canoe & Kayak Club just across the street! Build your dream home, PLA in place to subdivide/SSMUH 8 units (see plans) or 3 unit rental for investors. This desirable waterfront-adjacent location and proximity to downtown Victoria make this an exciting opportunity to explore all development possibilities. The property currently features a well-maintained 1955 home with multiple living spaces with excellent rental potential. The main level offers 3 bedrms, full bath, sunny living & dining rooms facing south, and a deck all overlooking the Gorge water. The walk-out lower level includes a legal 2 bedroom suite with newer flooring, its own hot water tank, separate meter, and private patio/deck. Additional bachelor suite too. Pre-Inspection, Oil tank scan, A/C heat pump. DO NOT disturb tenants or walk on property without approval.
found among the listing photos.
20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.
Costs: mortgage $7,702 · tax $683 · insurance ~$175 · vacancy 3% · upkeep 5%.
Suite rent is today's market rent for a studio in Saanich: CMHC's average there ($1,462) raised by what new tenants pay against everyone in the Victoria area, then down 1.5% 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.
Catchment schools, Greater Victoria School District 61
800 m away · 3155 Albina St, Victoria · 250-386-1408
1.4 km away · 505 Dumeresq St, Victoria · 250-479-1678
1.5 km away · 957 Burnside Rd W, Victoria · 250-479-8271
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.
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| year | assessed | est. tax |
|---|---|---|
| 2026 | $1,575,000 | $8,191 |
The listing shows $8,191 a year in property tax.
Estimate: the BC Assessment value times Saanich's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.
Houses in Saanich, registered sales in the last 6 months (BC Assessment) against each home's last asking price on the MLS®. Sale prices register 1 to 3 months after a sale closes.
lot outline: 1,853 m² (19,946 sq ft) · PID 006-230-547. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.
Walkability 81/100 · Very walkable: most errands on foot
Within a 10 minute walk: 1 grocery store, 3 places to eat or drink, 10 parks and playgrounds, 1 pharmacy, 30 transit stops.
mihom score from OpenStreetMap places, by straight line distance.