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$ 2,880,000
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1691&1695 Boundary Ave Nanaimo, BC V9S 1J8
0.57 Acres Lot
UPDATED:
02/05/2025 09:57 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 980176
Rental Info Unrestricted
Annual Tax Amount $13,855
Tax Year 2024
Lot Size 0.570 Acres
Acres 0.57
Property Sub-Type Multi Family
Property Description
Colliers is pleased to present for sale a multi-family redevelopment site offering holding income with upside: at 1691 & 1695 Boundary Avenue, Nanaimo. This is an exceptional opportunity to acquire a 24,970 square foot multi-family redevelopment site, featuring two rental apartment buildings with a total of twelve units comprised of Ten 2-bedroom units and Two 1-bedroom units. Key development highlights include: 225 feet of frontage on Boundary Avenue, directly facing the Nanaimo Regional General Hospital; R8 zoning allows for 1.25 FSR plus additional density bonuses; within walking distance to Bowen Road and Island Highway; located in Nanaimo, one of the five fastest growing metropolitans in Canada over the past five years. Key holding income highlights: ideal unit mix for Nanaimo; units are below market for rents; low vacancy rate in Nanaimo; and in immediate proximity to transit
Location
State BC
County Nanaimo, City Of
Area Na Central Nanaimo
Zoning R8
Exterior
Parking On Site 1
Others
Tax ID 003-909-549
Ownership Freehold
Listed by Colliers International (Nan)