townsend sooke - sold out

6 Unit Apartment Building

2068 Townsend Rd Sooke, BC

Invest in the ownership of 12,068 square feet, six residential unit property located in Sooke, BC

The Plan: Hold the property for cash-flow for three years with an exit for investors prior to any development of the property.

This property sold out to 940+ Canadians! These investments sell out quickly and they are reserved for our members.

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Estimated Term

3 Yrs

Estimated ROI

22.2%

Estimated IRR

7%

Estimated Owners' Days**

3

*The key numbers to explain how we make this estimate are available within your addy account. Investments in this property are restricted to British Columbia, Alberta, and Ontario residents. Qualified members can invest from $1 and up to $10,000.

**This is the day when we issue a distribution, or the property exits — aka cash earned from doing zero things, aka #passiveincome. For this property, there are three Owners’ Day projected.

Property Updates

Spread of Investors

Spread of investors in 2068 Townsend, Sooke, BC

Estimated Returns

The information presented below represents expected results of a $370,000 maximum offering (subject to increase as the Issuer may from time to time determine) and may not reflect actual results. The expected return (IRR and ROI) based on your investment amount can fluctuate up or down based on many factors. Please review the entirety of the Offering Memorandum and understand the risks stated in “Item 9 – Risks Factors”. You are not liable beyond your investment amount.

2068 Townsend - Returns Table

The Reel

Meet Brian Roche, President of Rendition Developments. As the General Partner (GP) of 2068 Townsend in Sooke, BC, he explains why they are so excited to invest in this Vancouver Island property.

What are some of the pros and cons about the new addy property at 2068 Townsend Rd in Sooke, BC? Asa of the addy squad highlights some of the things to consider.

The Gram

the highlights ✨

  • The site is improved with one, standalone structure. The apartment building was built in 1965 and contains six residential units.
  • The building is in good condition despite its age, with the condition assessment indicating that a new roofing system and several other structural upgrades have occurred in the past few years.
  • The units are clean and without any visible water ingress or other significant damage for buildings of this age.
  • The site is 12,068 square feet with approximately 108 feet of frontage, presenting a tremendous opportunity for redevelopment.
  • The Town of Sooke is currently undergoing OCP revisions and has designated this property as Town Centre which slates the property for 2.5 FAR up to six storeys.

Near the Property

2068 Townsend Road - 3D Map

Within a 15 minute walk

The map below shows some of the neighbourhood amenities that are within 15 minutes of walking distance from 2068 Townsend Road in Sooke, BC.
2068 Townsend Road - Bike Score
2068 Townsend Road - Walk Score

The Walk Score on this addy is lower than you might expect. This might be due to Walk Score not accurately representing walkability in small towns.

From Walk Score’s website on their Methodology – “Walk Score measures the walkability of any address using a patented system. For each address, Walk Score analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Amenities within a 5 minute walk (.25 miles) are given maximum points. A decay function is used to give points to more distant amenities, with no points given after a 30 minute walk.“

Location in Sooke

Click here to view location on Google Maps

Get To Know Sooke, British Columbia: Where the Rainforest Meets the Sea

  • Sooke is a district municipality on the southern tip of Vancouver Island, Canada, 38 kilometres by road from Victoria, the capital of British Columbia. Sooke, the westernmost of Greater Victoria’s Western Communities, is to the north and west of the Sooke Basin.
  • Sooke is a vibrant, dynamic and welcoming community. Located close to nature, this town’s motto of “Where the Rainforest Meets the Sea” speaks to the environmental riches of the area. Small but quickly growing community of about 14,000 reside on the west coast area of Vancouver Island.
  • Sooke’s popularity as a scenic tourist destination has existed for generations. Well-known destinations in Sooke, such as Whiffin Spit Park, the Sooke Potholes Regional Park and adjacent Sooke Potholes Provincial Park attract visitors both locally and from around the world. Sooke is also home to the Sooke Region Museum and Visitor Centre; where visitors and locals are able to get information on regional attractions and history. The area’s popularity has increased as a base for visiting the wilderness parks of Vancouver Island’s southwest coast — the West Coast Trail and the Juan de Fuca Provincial Park which includes the now highly popular Juan de Fuca Marine Trail.
  • Sooke, BC is also famous for its beaches just on the outskirts of its neighbouring communities such as Shirley and Jordan River. These beaches include Sandcut, French beach, Fishboat bay, China beach, Mystic beach and more.
  • Mountain biking is growing popularity in British Columbia, and Sooke is establishing itself as a destination for the sport. As one of the oldest settlements on Vancouver Island’s West Coast, Sooke appears to have been specifically located with recreational fishing in mind.
  • Sooke is a part of the School District 62 Sooke. There is one high school, Edward Milne Community School, and one junior high school, Journey Middle School. The four elementary schools in the area are John Muir (in the town’s west end), Sooke Elementary (town centre), the French immersion Ecole Poirier (town centre), and Saseenos Elementary (east end). Continuing adult education programs are offered by the Edward Milne Community School (EMCS) Society, which also operates with day, evening and weekend programs. The closest post-secondary institutions are Royal Roads University and Camosun College‘s Interurban campus.
  • This area borders Sooke Basin and Sooke Harbour. Both the harbour and basin are well protected from offshore winds providing excellent kayaking opportunities, sheltered boat launch ramps, moorage, whale watching tours and charter fishing guides.
  • One of the fastest growing areas of Vancouver Island, Sooke Recorded growth rates of 2.5 per cent in 2019, the second fastest growing Capital Regional District area after Langford.

General Partner Type

GP Types - OG

OG

These General Partners have 10+ years of experience and/or have owned and operated real estate in excess of $80M+ in asset value. These partners are seasoned in the industry and have a track record of successfully managing large-scale real estate projects (Learn more).

Meet The General Partner

Rendition Group of companies is a vertically integrated mid-sized development company with expertise in acquiring urban infill residential, commercial and flex office projects in up and coming neighbourhoods.

Rendition Developments Inc. (RDI) focuses on projects that are development permit ready and comply with the existing development zoning bylaws. This strategy allows for a quicker turnaround of capital that results in reduced risk and a better return to our investors and partners. The typical project size is 15,000 to 60,000 square feet with budgets between $20 Million and $60 Million.

Rendition Management and Construction Inc. (RMCI) is an affiliate of RDI that performs construction management services for both Rendition Developments and external clients. RMCI manages all types of construction projects from small-budget tenant improvements, to large scale developments.

The Investment Type

Core Plus Opportunistic Investment Type

Core Plus

Risk profile: 

Low to moderate

Investor type:

For investors looking for little risk with some upside.

What defines the risk level?  

A Core Plus investment can typically increase cash flows through light property improvements, management efficiencies or by increasing the quality of the tenants. Similar to core properties, these properties tend to be of high-quality and well-occupied.

The Community investment committee

Purchase decisions are made collectively by our community investment committee and our Board of Directors which has a track record of investing in and managing real estate (learn more here). The Investment Committee for this property includes:

Rajvinder Khatar
RBC Executive | ICBC Director

Vote: 👍

Cameron Rogers

Cameron RogerS
INVESTMENT COMMITTEE

Vote: 👍

Location, Location, Location – this revenue building has two grocery stores, TD, CIBC, Shoppers Drug Mart, Tim Hortons, A&W, many other shops and services, the library, and parks all within a block walk. Good redevelopment potential and respectable holding income. Smaller growing towns can be excellent places to invest.

Andrew Gaucher
Vice President, McKinley Beach, GGroup

Vote: 👍

What our members are saying

“It was an easy way to invest some funds in real estate that I would normally not be able to afford on my own. It’s great to be part of something that is creating a new way of investing.”

Klaus / Toronto, ON

“My wife and I are excited to have discovered addy, and invested in a Starbucks location nearby — it’s nice to be able to participate in owning commercial real estate without putting up a bunch of money, and knowing we can drive by it anytime makes it more fun than buying stocks!” 

Shawn / Nanaimo, BC

“This is God sent, if you ask me. A chance to own a slice of commercial properties all over the country. An opportunity I otherwise wouldn’t have had had it not been for addy. I can’t thank addy enough. I eagerly await for addys to drop and with each investment, I know I’m actively improving my financial future.”

Jocelyn Armah / Google Review

What our members are saying on Discord

“addy is a great platform that allows individuals to break through into the real estate market without having to deal with lawyers, agents, and most of all the rising housing prices. Most importantly, the addy discord provides a great platform for a diverse community to discuss ideas as it relates to real estate and other financial related topics. I have already learned a lot from the conversations and discussions from the Discord to make better informed investing decisions for my future”

$nitintailor / Toronto, ON

“addy has let me get into a market I never thought I could be in! The community in Discord allows me to be connected to others, receive tips and have fun while making investments right for me! Thank you addy!”

$Wanderlust / Vancouver, BC

“Before breakfast and I already bought into a commercial building in Hamilton. No running around looking at buildings or doing do due diligence. No extra costs. No trips to the lawyers. This is the world’s easiest way to buy real estate.”

$Cameron / Abbotsford, BC

How Do You Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Memorandum for each property.

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