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)
The property at 181 Rosehill Street in Nanaimo's Newcastle area is priced at $460 per square foot, which is slightly above the city's current average of $430 per square foot for similar multi-family homes. However, the property's strategic location near the waterfront and zoning that allows for future development potential make it an attractive investment opportunity. This four-unit rental property is well-suited for real estate investors seeking a stable income stream, as the existing self-contained studio suites and abundant parking ensure a solid rental yield despite the slightly elevated price point.
Property Details
Location
Interested in buying in Nanaimo?
Rose Marie Manno is a 5-star rated REALTOR® serving Metro Vancouver & the Fraser Valley.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the Canadian Real Estate Association. Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the FVREB, REBGV or CADREB, which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver, the Fraser Valley Real Estate Board, or the Chilliwack and District Real Estate Board.