Description
This centrally located property in the heart of Nanaimo offers an exceptional opportunity for small to mid-scale developers looking to enter or expand within the multi-family market. Currently operating as a single-family residence with consistent rental revenue, the true value lies in the development potential already unlocked. The City of Nanaimo has approved a development permit for a well-designed fourplex consisting of four three-bedroom units, each with family-oriented floorplans and private exterior balconies. Notably, two of the units will feature limited ocean views. Designed with both community and privacy in mind, each unit features a townhouse-style entry with its own exterior door. This layout not only enhances curb appeal but fosters a sense of individual identity and ownership while still creating a cohesive community atmosphere-an increasingly desirable feature among modern homebuyers. This project is a rare find in the Nanaimo market, where new three-bedroom units are in short supply. The design directly addresses the growing demand for attainable housing by providing family-sized units that can serve both the end-user homeowner and the long-term investor. The development fulfills all City parking requirements and has been thoughtfully conceived as a missing middle solution-offering practical density without compromising livability or neighborhood character. With the Development Permit in place and a well-positioned floorplan design in a supply-constrained market, this is a strong candidate for a build-to-sell or build-to-hold strategy. Measurements Approx. Verify if important. (id:13843)
Details
| MLS # | 1036561 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Status | Active |
| Year | 1910 |
| Days On Site | 163 |
| Listing Provided By | Real Broker | Kelly Whitton |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,334 |
| Zoning | Residential |
| Acreage | 0.20 |
| Property View | Ocean view |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Parking
| Parking Total | 4 |
|---|
Taxes
| Tax Annual Amount | 3291 |
|---|
Area Information
| Province | BC |
|---|---|
| City | Nanaimo |
| Postal Code | V9R2N7 |
| Listing VS Median (in V9R2N7) | |
Price: $699,000 low | high Med: $699,000 sqft: 1,334 low | high Med: 1,359 $ / sqft: $524 low | high Med: $515 On site: 163 low | high Med: 163 | |
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Learn More About This Property
| Province | BC |
|---|---|
| City | Nanaimo |
| Postal Code | V9R2N7 |
| Listing VS Median (in V9R2N7) | |
Price: $699,000 low | high Med: $699,000 sqft: 1,334 low | high Med: 1,359 $ / sqft: $524 low | high Med: $515 On site: 163 low | high Med: 163 | |
