Well-maintained 14-unit apartment building in a prime central location offering strong in-place income with clear upside. The suite mix includes twelve spacious 1-bedroom units (approx. 700 sq ft) and two large 2-bedroom units (approx. 1,100 sq ft), many with ocean views. Ideally positioned close to all amenities with covered tenant parking beneath two levels of apartments. Significant recent capital improvements include new roof (2020), siding (2019) and building hot water tank (2025), plus four renovated units in the past 4 years. Built in 1964 on three separately titled city lots totaling over 19,000 sq ft and zoned R8, presenting future redevelopment or densification potential. Stable tenancy with long-term occupants and room to improve returns. Price is plus applicable GST.
Property Type:
Commercial Sale
Type:
Multi Family
Commercial Type:
Building, Land
Year built:
1964
(Age: 62)
Lease Type:
Sale of Assets
Listing General Location:
Na Brechin Hill, Nanaimo
Bathrooms:
-
(Full:-/Half:-)
Lot Size:
19,215 sq. ft.1,785 m2
Building Features:
Parking, Shopping Nearby, Transit Nearby
Construction:
Vinyl Siding
Foundation:
Concrete Perimeter
Number of Storeys:
2
Total Building Area:
6,257 sq. ft.581 m2
Water supply:
Municipal
Sewer:
Sewer Connected
Heating:
Hot Water, Natural Gas
Fireplace:
No
Balcony/Deck, Balcony/Patio
Mountain(s), Ocean
Main Level
0
Yes
No
Unrestricted
Jurisdiction name:
City of Nanaimo
Zoning:
R8
Legal Non-Conformance:
No
Occupancy:
Tenant
Lot Site Features:
Central Location, Corner Lot, Easy Access, Level, Marina Nearby, Near Golf Course, Recreation Nearby, Serviced, Shopping Nearby, Southern Exposure
Parking Features:
On Site
Date Listed:
Mar 24, 2026
Original Price:
3100000.0
Listed by Royal LePage Nanaimo Realty (NanIsHwyN)
Data was last updated April 3, 2026 at 04:05 PM (UTC)