Cordova Bay, Saanich · MLS® 1050905
231
1,898 sq ft · Condo · Single Family · built 1994 · 23 days on market
listed by Derek Braaten, Sutton Group West Coast Realty
Arguably the BEST location in this luxury 55+ condo complex! This SOUTH/EAST CORNER PENTHOUSE offers approx. 1,900 SF of bright, spacious living with PANORAMIC OCEAN VIEWS from all principal rooms. The open kitchen/dining area features a massive quartz island, eating bar, breakfast nook, floor-to-ceiling cabinetry, butler’s pantry and access to a wraparound ocean view deck. Both very large bedrooms offer their own walk-in closet, ensuite and balcony access, plus there is a skylit den & 3 outdoor balconies provide almost 500 sf sunny space. Only 2 homes on the 5th floor, with storage next to the suite. Tasteful updates incl. interior paint, cork flooring, walk-in closet and ensuite upgrades, steam shower, bidet toilet seat, custom wallpaper in the powder room, rebuilt awnings, window coverings, fridge, dishwasher, new microwave and built-in recycling station. On-demand hot water, secure pkg with EV charging roughed in, clubhouse, indoor pool, hot tub, guest rooms and 2 pets permitted.
found among the listing photos.
20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
Costs: mortgage $5,942 · tax $467 · strata $1,033 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent is today's market rent for a 2-bedroom in Saanich: CMHC's average there ($2,104) raised by what new tenants pay against everyone in the Victoria area, then down 1.9% 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, Saanich School District 63
600 m away · 5238 Cordova Bay Rd, Victoria · 250-658-5315
3.4 km away · 751 Travino Lane, Victoria · 250-479-7128
700 m away · 4980 Wesley Rd, Victoria · 250-658-5221
From the Saanich School District 63'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 | $1,085,000 | $5,643 |
| 2025 | $913,000 | $4,509 |
Estimated tax up 25.1% from 2025 to 2026.
The listing shows $5,599 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.
Condos 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.
the building's lot: 26,150 m² (281,476 sq ft) · PID 018-983-529. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.
Walkability 22/100 · Mostly by car
Within a 10 minute walk: 15 parks and playgrounds, 1 pharmacy, 9 transit stops.
mihom score from OpenStreetMap places, by straight line distance.