- Active
- Open house Sat, Oct 17
PH 402 – 5229 Cordova Bay Road
Saanich · Single Family
- Beds
- 2
- Baths
- 2
- Sqft
- 1,215
- Built
- 2026
Listed by Rennie & Associates Realty Ltd. · MLS® 1050036
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About this home
Perched on the top floor at Tiller & Grace, Penthouse 402 is a beautifully designed southwest corner residence offering the perfect blend of indoor comfort and outdoor living. This 2-bedroom, 2-bath home features 1215 sq. ft. of thoughtfully designed interior space paired with an impressive 293 sq. ft. of private rooftop terraces designed to maximize sun, privacy, and entertainment. The open-concept corner layout offers exceptional natural light along with generous space for dining, relaxing, and hosting guests. The thoughtfully separated bedrooms create ideal privacy for owners and visitors alike, making the home perfectly suited for downsizers, professionals, or those who love to entertain. One expansive west-facing terrace sits directly off the kitchen — an ideal setting for an outdoor kitchen, BBQ area, or evening dining in the afternoon sun. The second southwest-facing terrace captures expansive southwest views of ocean and forest, while creating an incredible outdoor lounge space to enjoy sunsets and the coastal lifestyle Cordova Bay is known for. With its seamless connection between indoor and outdoor living spaces, premium finishes, and a rare top-floor vantage point, PH 402 offers a truly elevated living experience just moments from beaches, parks, and everyday amenities.
Home facts
- Bedrooms
- 2
- Bathrooms
- 2 full
- Interior
- 1,215 sq ft
- Lot size
- 1,508 sq ft
- Year built
- 2026
- Parking
- 1
- Property type
- Single Family
- Fireplace
- 1
- Area
- Cordova Bay
- Listed
- September 18, 2026
- Structure
- Apartment
- PID
- 032-775-261
- Common interest
- Condo/Strata
Highlights
- Ocean view
- Mountain view
Features and inclusions
- Appliances
- Washer, Refrigerator, Range - Electric, Dishwasher, Dryer, Microwave
- Heating
- Heat Pump, Forced air, Electric, Other
- Cooling
- Fully air conditioned, Air Conditioned
- Parking
- Other, Electric Vehicle Charging Station(s)
- Community
- Family Oriented, Pets Allowed With Restrictions
Rooms and building
- Water
- Zoning
- Residential/Commercial
The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
Monthly and upfront costs
Uses the posted 5-year rate (5.19%), 20% down and a 25-year amortization.
Monthly ownership costs
- Principal and interest
- $6,517
- Property tax
- $400/mo
- Home insurance
- $150/mo
- Estimated monthly total
- $7,067
Purchase snapshot
- List price
- $1,375,000
- Down payment
- $275,000 (20%)
- Estimated mortgage
- $1,100,000
Estimates only. They leave out utilities, upkeep and closing costs.
Borrowing costs
What money costs right now
The rates behind any payment estimate on this page.
- Prime rate
- 4.45%
- Variable mortgages are quoted against this.
- 5 year bond yield
- 3.68%
- Fixed mortgage pricing follows this.
- Policy rate
- 2.25%
- Set by the Bank of Canada.
These are benchmark rates, not mortgage quotes. Your rate depends on the lender, the term, and your file.
Source: Bank of Canada. As of 2026-09-29
Property tax
What the tax bill looks like
Municipal, regional, hospital and school rates combined.
- Estimated annual tax
- $7,151
- At 5.2008 per $1,000 of assessed value.
Estimated by applying the municipal rate to the asking price. Your actual bill is based on the BC Assessment value, which is set separately and usually differs from the sale price. Home owner grants are not included.
Source: Province of British Columbia, Local Government Statistics Schedule 702, 2026. As of 2026-01-01
For investors
As a rental
- Estimated rent
- $2,000 a month
- Gross yield
- 1.7%
Estimated rent from Statistics Canada rents for this area, scaled to the bedrooms. Gross yield is 12 months of that rent over the asking price, before costs.
Neighbourhood
Estimated travel times. Map data © OpenStreetMap contributors.
Climate
What the weather is like in Victoria
Ten year average, 2016–2025.
- Average temperature
- 10.5°C
- Daily mean across the year.
- Yearly precipitation
- 863 mm
- On the drier side for BC.
- Yearly snowfall
- 39 cm
- Snow is the exception here.
- Bright sunshine
- 2,109 h
- Hours of sun a year, 1981–2010 average.
Averaged from the last ten complete years of Environment Canada observations at the nearest principal station, so it reflects the climate as it is now rather than a thirty year normal. Bright sunshine is the exception: it is no longer measured at these stations, so that figure is the long term average.
Source: Environment and Climate Change Canada, monthly climate summaries
Land and hazards
What the maps say about this land
Provincial designations and mapped natural hazards at this location.
- Wildfire interface
- Low risk
- In a mapped wildland-urban interface zone. Affects insurance and FireSmart requirements.
Based on where this point falls in provincial map layers, not a site survey or a formal hazard assessment. Confirm with the municipality, a professional, and your insurer before relying on it.
Source: BC Geographic Warehouse (Agricultural Land Commission, BC Wildfire Service)
Most listed
Detached · 45%
Who lives here
Documents
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