586 Island Rd
$2,250,000
South Oak Bay
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About this home
Nestled on one of South Oak Bay’s most storied country lanes, this 3-bed, 3-bth home on Island Road blends modern comfort with old-world charm. The living room features lofted ceilings, a gas fireplace & leafy outlooks, opening to a well-proportioned dining room. The kitchen offers a walk-in pantry, granite counters & a sunny breakfast nook flowing into a generous family rm with cozy feature fireplace. French doors lead to a beautifully landscaped & colourful English garden for easy indoor-outdoor living! A main-level office/den, full laundry rm and 2-car drive-in garage with workshop add excellent utility and storage. Recent upgrades include beautiful new white-oak hardwood floors, new heating and domestic hot water system, EV charger and solar system. Immaculately cared for and exceptionally private and quiet, this sensational home sits on a street where listings are rare, just steps to Anderson Hill Park, the Victoria Golf Club, top schools & popular neighbourhood restaurant/cafes! (id:65179)
Property details
From the listing's public record.
Lot size
6,652 square feet
Year built
1994
Taxes
$10,534/yr
Zoning
Residential
Appliances
Heating
Lot
Price history
3 recordsEvery recorded listing event for this property — sales, relists, expired or withdrawn listings.
Jun 28, 2026
Listed $2,250,000
Active29 days on marketMLS 1041493Apr 4, 2022
$2,500,000
Sold16 days on marketMLS 892936Dec 15, 2005
$875,000
Sold32 days on marketMLS 378214
How this listing compares
Based on 91 sales in South Oak BayMedian sold
$1,850,000
Avg days on market
44 days
Avg sale-to-list
97.8%
Avg $/sqft
$688
Price per square foot
Above area average
Current market in South Oak Bay
Active (same type)
32
Pending
15
All active listings
60
Months of supply
4.2
Balanced market — 4.2 months of supply at the current sales pace.
Assessment
From publicly available property records.
Assessed value
$1,923,000
Homes in Oak Bay sell at 155.1% of assessed value on average.
Based on 215 recent sales.
Local price trend
How South Oak Bay has moved over the last decade.
Local price index (normalized) · 117 months
Recent nearby sales
12 sales449 Victoria Ave
$1,570,000
5 bd · 3 ba · 3,217 sqft · $488/sqft · 22 days on market
Sold Jul 16, 2026 · 95.2% of list
590 Island Rd
$2,850,000
4 bd · 4 ba · 3,585 sqft · $795/sqft · 5 days on market
Sold Jul 15, 2026 · 106.5% of list
945 Falkland Rd
$1,362,500
4 bd · 2 ba · 3,582 sqft · $380/sqft · 48 days on market
Sold Jul 10, 2026 · 97.7% of list
990 Hampshire Rd
$1,145,000
4 bd · 2 ba · 2,266 sqft · $505/sqft · 15 days on market
Sold Jul 10, 2026 · 97.4% of list
865 St. Patrick St
$1,502,000
4 bd · 3 ba · 2,951 sqft · $509/sqft · 9 days on market
Sold Jul 2, 2026 · 102% of list
575 St. Patrick St
$3,704,000
4 bd · 4 ba · 4,461 sqft · $830/sqft · 10 days on market
Sold Jun 30, 2026 · 93.8% of list
658 Byng St
$1,640,000
3 bd · 2 ba · 2,400 sqft · $683/sqft · 59 days on market
Sold Jun 30, 2026 · 93.7% of list
2231 Windsor Rd
$2,125,000
5 bd · 3 ba · 3,089 sqft · $688/sqft · 3 days on market
Sold Jun 30, 2026 · 98.8% of list
614 Monterey Ave
$2,300,000
3 bd · 3 ba · 2,767 sqft · $831/sqft · 55 days on market
Sold Jun 29, 2026 · 92.2% of list
2015 Runnymede Ave
$1,480,000
2 bd · 2 ba · 2,339 sqft · $633/sqft · 77 days on market
Sold Jun 26, 2026 · 92.5% of list
611 Island Rd
$2,550,000
3 bd · 3 ba · 5,442 sqft · $469/sqft · 159 days on market
Sold Jun 16, 2026 · 98.1% of list
895 Falkland Rd
$1,545,000
4 bd · 3 ba · 3,162 sqft · $489/sqft · 19 days on market
Sold Jun 16, 2026 · 99.7% of list
What would this home cost?
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Monthly mortgage
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Loan amount
$2,250,000 − $450,000
Down payment
20.0%
Property Transfer Tax
Legal / closing (est.)
Cash to close
$497,000
Down payment + PTT + GST + legal estimate.
Estimates only, based on current BC rates and thresholds. Not tax, legal, or financial advice. Property transfer tax exemptions have eligibility requirements — confirm with a lawyer or notary. GST rebates on new construction are not modelled here. Mortgage payment uses Canadian semi-annual compounding and excludes property tax, home insurance, and CMHC mortgage insurance.
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Interested in this home?
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Listed by Sotheby's International Realty Canada