About This Property
This high potential piece of property offers a rare opportunity for investors, builders, and forward-looking buyers in a central Nanaimo location. Set on a 10,838.96 sq ft lot, this property is zoned R5 – Three and Four Unit Residential, making it an attractive option for those considering future multi-unit redevelopment, land assembly, or a strategic hold with upside. The existing home provides approximately 952 sq ft on the main floor, 640 sq ft on the second floor, plus an unfinished 919 sq ft basement, offering flexibility for renovation, rental income, or interim occupancy while planning next steps. The large parcel, strong exposure, and convenient access to amenities, transit, and major routes add to the long-term appeal. Land size is taken from BC Assessment and house measurements are approximate; buyers should verify all information if important. (id:64973)
At $408 per square foot, this Nanaimo property is priced competitively compared to the city's median single-family home price of $550 per square foot. Given its R5 zoning and sizeable lot, this property presents an attractive redevelopment opportunity for investors or builders seeking to capitalize on Nanaimo's growing demand for higher-density housing.
Property Details
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