261 King George Terr
Oak Bay, BC V8S2J8
$5,745,000
Property Details
Property & Lot
- Sub-type
- House
- Lot size
- 0.84 acres
- Zoning
- Residential
R-3
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $33,870.02
Interior
- Heating
- Natural gas, Hot Water
- Cooling / A/C
- None
- Fireplace
- Yes (2)
Exterior & Lot
- View
- Mountain view, Ocean view
- Waterfront
- Waterfront on ocean
Parking
- Total spaces
- 8
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Patio | Lower level | — |
| Patio | Lower level | — |
| Patio | Lower level | — |
| Media | Lower level | — |
| Other | Lower level | — |
| Library | Lower level | — |
| Family room | Lower level | — |
| Utility room | Lower level | — |
| Laundry room | Lower level | — |
| Entrance | Lower level | — |
| Bedroom | Lower level | — |
| Bathroom | Lower level | 4-Piece |
| Ensuite | Lower level | 3-Piece |
| Bedroom | Lower level | — |
| Bathroom | Second level | 4-Piece |
| Other | Second level | — |
| Bedroom | Second level | — |
| Bedroom | Second level | — |
| Workshop | Main level | — |
| Patio | Main level | — |
| Patio | Main level | — |
| Patio | Main level | — |
| Patio | Main level | — |
| Bathroom | Main level | 2-Piece |
| Ensuite | Main level | 4-Piece |
| Primary Bedroom | Main level | — |
| Kitchen | Main level | — |
| Eating area | Main level | — |
| Dining room | Main level | — |
| Living room | Main level | — |
| Other | Main level | — |
| Entrance | Main level | — |
Listing Information
- MLS®
- 1030570
- Listed
- April 8, 2026
- Time on market
- On the market for 145 days
- Data last synced
- August 28, 2026
Listing provided by: The Agency · Data source: CREA DDF.
Description
NEW PRICE $5,745,000 Experience timeless elegance at 261 King George Terrace, a remarkable south-facing waterfront estate in Oak Bay's prestigious Gonzales neighbourhood. Built in 1933 and set on over 0.8 acres, this exquisite home boasts panoramic views of the ocean, Trial Islands, and Olympic Mountains from nearly every room. Watch whales from your beautifully landscaped backyard, framed by incredible natural rockwork. Inside, the home offers the flexibility of one-level living on the main floor featuring a spacious kitchen, formal dining and living room, principal suite, and more—making everyday living exceptionally convenient. Downstairs, a full-height walk-out basement expands your options with additional living space that opens into pristine grounds. Dual driveways each lead to their own detached double garage. With its historic charm, thoughtful layout, and spectacular setting, this is a rare opportunity to own one of Victoria’s most iconic seaside estates. (id:63159)
Values & Trends
This listing
$948/sqft
Building average
—
No other active listings in this building
Gonzales average
$1,182/sqft
11 active listing(s)
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Location Insights
Weather
Nearest station: Gonzales Point
15°C
—
Humidity 76%
Wind W 10 km/h
Tonight
12°
Tuesday
19°
Tuesday night
13°
Wednesday
15°
Wednesday night
11°
Thursday
15°
Source: Environment and Climate Change Canada.
Population
17,990
(2021 Census)
-0.6% since 2016
Density: 1,710.1/km²
Dwellings: 8,168
Median household income: $107,000
After-tax: $93,000
Immigrant population: 21.9%
Top countries of origin (% of total population)
- United Kingdom7% · 1,265
- United States of America2.9% · 515
- China1.5% · 270
- Germany0.9% · 155
- South Africa, Republic of0.5% · 85
- Netherlands0.4% · 80
- Philippines0.4% · 75
- Taiwan0.4% · 70
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
11
1/9 categories nearby
Transit
—
Not enough data yet
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| Monterey Middle School | Elementary | 1.1 km |
| Margaret Jenkins Elementary | Elementary | 1.2 km |
| Glenlyon Norfolk School(Independent) | K-12 | 1.6 km |
| Sundance-Bank Elementary | Elementary | 2.3 km |
| Sir James Douglas Elementary | Elementary | 2.3 km |
| Oak Bay Secondary | Secondary | 2.4 km |
| St Patrick's School(Independent) | Elementary | 2.7 km |
| Central Middle School | Elementary | 2.8 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
No TransLink stops within an ~10-minute walk.
Nearby Places
Parks (5+)
- Trafalgar Park157 m
- Walbran Park343 m
- Quimper Park · 2115 Quimper Street355 m
- Unnamed393 m
- Lafayette Park · 2200 Lafayette Street633 m
Nearby places data: © OpenStreetMap contributors.
School district: Victoria (SD61)
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Mortgage & Ownership Cost Calculator
Minimum required: 20.0% ($1,149,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.