Every so often a piece of land comes along that simply can't be replicated — and in a region where space this close to the city has all but disappeared, 540 View Royal Avenue is exactly that. Sitting on a rare 0.84-acre lot on the sought-after water side of View Royal Avenue, this is an ocean-view property with a character home, mature Garry oaks, and the kind of flexibility that's almost impossible to find anymore.
The essentials
Price: $1,399,000
Bedrooms / Bathrooms: 3 bed / 2 bath
Finished area: 2,029 sq ft, plus 1,062 sq ft of unfinished space
Lot size: 36,590 sq ft — roughly 0.84 of an acre
Year built: 1942 (freehold, single-family detached)
Parking: 3 spaces — carport, detached, and driveway
2025 gross taxes: $6,515
MLS®: 1040491
Why this lot is special
The headline here is the land: a 0.84-acre ocean-view parcel on the water side of the street, with southern exposure, natural rockscapes, mature Garry oaks, and several outbuildings creating a private, park-like setting. Parcels like this — large, private, and this close to downtown Victoria — almost never come to market.
That space is what makes 540 View Royal so flexible. You can renovate and restore the existing character home, or build your dream residence designed to capture the full ocean views. Either way, this is a rare opportunity to put your own stamp on a property with genuine scale and privacy.
A 1942 character home with great bones
The three-level home offers 2,029 sq ft of finished living space, plus an additional 1,062 sq ft of unfinished space — a real opportunity to renovate, restore, or reimagine. The main floor keeps its original charm, with maple floors, a fireplace, a bay window, and spacious principal rooms, and the primary bedroom is conveniently located on the main level. Upstairs is flexible space that works as a studio, office, family room, or additional bedrooms. The full-height lower level has its own separate entrance, a bathroom, and walk-out access — offering excellent future development potential.
As a journeyman carpenter as well as a Realtor, I see a lot of upside in a home like this: solid bones, a great floor plan to work with, and room to add real value.
Living in View Royal
View Royal is one of Greater Victoria's quiet advantages — an established, connected community that still feels tucked away. From 540 View Royal Avenue, Admirals Walk shopping is just minutes away for groceries, coffee, and essentials, and Victoria General Hospital is right in the community. View Royal School (K–5, in catchment) is under a kilometre away, with Shoreline Community Middle School and Esquimalt High School also serving the area. Parks, trails, and the waterfront of Portage Inlet and the Gorge are all close by, and downtown Victoria is roughly 15 minutes away, with Esquimalt and the Westshore an easy drive. It's central without feeling crowded — and on a lot this size, that balance is rare.
Come see it
If a large private lot, ocean views, and a character home full of potential sound like what you've been searching for, 540 View Royal Avenue deserves a spot at the top of your list. I'd be happy to walk you through the home and the property in person, and talk through the options — whether that's renovating the existing home or building new. Reach out anytime to book a private showing.
Dan Juricic PREC* — REALTOR®, RE/MAX Camosun
250-514-8261 | danjuricic.com