About This Property
Fantastic investment opportunity in this legal 4-plex only 2 blocks to the waterfront walkway and Nanaimo Yacht Club. Located on one of the city’s most picturesque streets, in the Newcastle area, this property features four fully self-contained studio suites, each with a large private patio area for outdoor living. All four units have their own hot water tank and electrical meter, as well as plenty of parking for the landscaped corner lot. R8 multi-family zoning offers future development potential within walking distance of downtown and only minutes to Departure Bay ferry terminal. Generating over $46,000 gross revenue, this is a rare gem in a desirable area of Nanaimo’s evolving core. All data and measurements are approximate, please verify. (id:64973)
At $482 per square foot, this 4-plex in Nanaimo's desirable Newcastle area is priced competitively compared to the city's average of $550 per square foot for similar multi-family properties. Given the strong rental potential from the four fully self-contained studio units, this investment opportunity is well-suited for real estate investors seeking a stable income stream in a prime coastal location.
Property Details
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