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$ 800,000
Est. payment | /mo
9,583 Sqft Lot
$ 800,000
Est. payment | /mo
9,583 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1018397
Rental Info Unrestricted
Annual Tax Amount $5,942
Tax Year 2025
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Multi Family
Property Description
This property offers strong rental income and excellent future potential in the heart of Nanaimo's Old City. The current dwelling features eight individual studio units with shared bathrooms and laundry facilities, grossing over $6,100 per month in rental revenue. The property is comprised of two separately titled lots, providing an exceptional opportunity for future development—build an additional dwelling on the second lot (details to be confirmed with the City of Nanaimo). Convenient lane access adds further flexibility. Centrally located near downtown amenities, transit, and the waterfront, this property is an ideal addition to any investment portfolio. The home is listed on the heritage register as a non-protected property; it was originally the Dykes Residence. The current use with cooking facilities in each unit has non-conforming status, see more info from City on supplements. All data & measurements are approximate and must be verified if fundamental.
Location
Province BC
County Nanaimo, City Of
Area Na Old City
Zoning R14
Interior
Heating Forced Air, Natural Gas
Heat Source Forced Air, Natural Gas
Exterior
Parking On Site 1
Building
Building Description Frame Wood, Basement
Foundation Poured Concrete
Sewer Sewer Connected
Water Municipal
Structure Type Frame Wood
Others
Pets Allowed Yes
Ownership Freehold
Listed by REMAX Professionals (NA)