3 beds · 2 baths · 1838 sqft
Attention Investors! Here's your chance to seize a prime redevelopment opportunity in central Nanaimo. This 6510 sqft flat lot boasts dual road frontages and is serviced with water, sewer, and natural gas, setting the stage for a variety of development possibilities. Currently generating $2875/month in rental income, this property offers financial flexibility while you plan your next move. The rancher-style home features 3 bedrooms, 2 bathrooms, a laundry room, sunroom, and a separate 1 bed, 1 bath suite that can easily be integrated. Additional perks include a 5'9'' basement for storage, recent updates such as new floors, paint, and bathroom fixtures, plus a roof approximately 10-15 years old. Parking is abundant with space for cars or RVs, and there's potential to add a workshop or detached garage with access from Eberts Street. Located within minutes of Nanaimo Hospital, Vancouver Island University, Departure Bay Beach/Ferries, and other key amenities, this property promises both convenience and growth potential. Don't miss out on this rare opportunity to capitalize on Nanaimo's real estate market! All measurements are approximate and should be verified if important. (id:39198)
Building Type House
Year built 1953
Square Footage 1838 sqft
Stories
Bedrooms 3
Bathrooms 2
Parking 1
NeighbourhoodCentral Nanaimo
Land size 6510 sqft
Heating type Forced air
Basement type
Parking Type
Time on REALTOR.ca34 days
This home may not meet the eligibility criteria for Requity Homes. For more details on qualified homes, read this blog.
Brokerage Name: RE/MAX of Nanaimo
Home price
$599,900
Start with 2% down and save toward 5% in 3 years*
* Exact down payment ranges from 2-10% based on your risk profile and will be assessed during the full approval process.
$5,457 / month
Rent $4,826
Savings $631
Initial deposit 2%
Savings target Fixed at 5%
Start with 5% down and save toward 5% in 3 years.
$4,809 / month
Rent $4,678
Savings $131
Initial deposit 5%
Savings target Fixed at 5%