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40 Government St in Victoria: Vi James Bay Single Family Residence for sale : MLS®# 1052892

40 Government St Victoria V8V 2K3 : Vi James Bay

A beautiful James Bay original, rich in heritage character and just moments from the Dallas Road waterfront.banner
$1,488,000
Prop. Type:
Residential
MLS® Num:
1052892
Status:
Active
Bedrooms:
3
Bathrooms:
3
Year Built:
1906
Steps from stunning Dallas Road waterfront, this gorgeous heritage-designated James Bay home offers a rare choice: two one-bedroom residences with non-strata duplex status at 40 & 42 Government, or a generous single-family home with potential for 3 bedrooms (one currently a sitting room) plus a studio/flex space, or 4 bedrooms by repurposing the upper kitchen. Ideal for rental income, multigenerational living or one big, beautiful home - so many options! Original fir floors, graceful staircase, spacious light-filled rooms & enclosed sunroom preserve its enduring character. Substantial improvements include beautiful new main-floor kitchen & bath, 2018 roof, heat pump, on-demand hot water & attic vermiculite removal & EV charger in driveway! A peaceful back garden enhances the 5,600 sqft lot, while 1,368 sqft of unfinished basement provides storage & utility space. Beacon Hill Park, Ogden Point & the Inner Harbour are just a short stroll away. This isn't just a home, it's a lifestyle!
Property Type:
Residential
Type:
Single Family Residence
Year built:
1906 (Age: 120)
Close Price Lease Total:
Existing Lease Expiry:
Living Area:
Switch units of measure2,370 sq. ft.
Listing General Location:
Vi James Bay, Victoria
Bedrooms:
3
Bathrooms:
3.0 (Full:-/Half:-)
Lot Size:
Switch units of measure5,600 sq. ft.
Lot Details:
50 ft wide x 112 ft deep
Kitchens:
2
Home Style:
Character, Heritage
Taxes:
Construction:
Frame Wood, Wood
New Construction:
No
Basement:
Full, Unfinished
Foundation:
Concrete Perimeter
Roof:
Fibreglass Shingle
Levels:
2
Ceiling Heights:
Switch units of measure
Floor finish:
Softwood, Vinyl
Total Building Area:
Switch units of measure3,830 sq. ft.
Total Unfinished Area:
Switch units of measure1,460 sq. ft.
Commercial Area:
# Bedrooms or Dens Total:
3
# Main Level Bedrooms:
1
# Second Level Bedrooms:
2
# Third Level Bedrooms:
0
# Lower Level Bedrooms:
0
# Other Level Bedrooms:
0
# Main Level Bathrooms:
1
# Second Level Bathrooms:
2
# Third Level Bathrooms:
0
# Lower Level Bathrooms:
0
# Other Level Bathrooms:
0
# Main Level Kitchens:
1
# Second Level Kitchens:
1
# Third Level Kitchens:
0
# Lower Level Kitchens:
0
# Other Level Kitchens:
0
Living Area Lower Floor:
Switch units of measure1,368 sq. ft.
Living Area Main Floor:
Switch units of measure1,403 sq. ft.
Living Area Other Floor:
Switch units of measure0 sq. ft.
Living Area 2nd Floor:
Switch units of measure967 sq. ft.
Living Area 3rd Floor:
Switch units of measure0 sq. ft.
Fireplaces:
1
Fireplace Details:
Living Room
Laundry Features:
In House
Water supply:
Municipal
Sewer:
Sewer Connected
Cooling:
HVAC
Heating:
Electric, Forced Air, Heat Pump
Fireplace:
Yes
Pending Date:
Dining Room, Eating Area
Wood Frames
Balcony/Deck, Fencing: Partial, Low Maintenance Yard
One half block from Dallas Rd.
Main Level
0
Yes
No
Unrestricted
Floor
Type
Dimensions
Other
Main Floor
Main Floor
Main Floor
Main Floor
Main Floor
Main Floor
Main Floor
Main Floor
2nd Floor
2nd Floor
2nd Floor
2nd Floor
Floor
Ensuite
Pieces
Other
Main Floor
2nd Floor
2nd Floor
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Victoria
Legal Description:
Zoning:
GRD-1 (PGA)
Units in Building:
Units in Community:
Number of 2 piece baths:
1
Number of 3 piece baths:
0
Number of 4 piece baths:
1
Number of 5 piece baths:
0
Number of 2 piece Ensuites:
0
Number of 3 piece Ensuites:
0
Number of 4 piece Ensuites:
0
Occupancy:
Owner
Property Condition:
Resale
Exposure / Faces:
East
Layout:
Main Level Entry with Lower/Upper Lvl(s)
Lot Site Features:
Level, Private, Rectangular Lot
Attached Garage:
No
Carport Spaces:
0
Garage Spaces:
0
Garage:
No
Parking Features:
Driveway, On Street
Total Parking Spaces:
1
Common Parking Spaces:
0
Total Units:
Date Listed:
Oct 23, 2026
Original Price:
1488000.0
Listed by Pemberton Holmes Ltd. - Oak Bay
Data was last updated October 24, 2026 at 08:05 PM (UTC)
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.