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Home BC Greater Nanaimo Nanaimo Northfield
1691&1695 Boundary Ave
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1691&1695 Boundary Ave $2,980,000
$2,980,000
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1691&1695 Boundary Ave
Nanaimo, British Columbia V9S1J8

MLS® Number: 980176

Listing 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 (28598607)

Property Summary

Property Type
Multi-family
Building Type
Multi-Family
Neighbourhood Name
Central Nanaimo
Title
Freehold
Land Size
0.57 ac
Annual Property Taxes
$13,855.48
Time on REALTOR.ca
18 days

Building

Building Features
Total Units
12

Land

Other Property Information
Zoning Description
R8
Zoning Type
Unknown
Data provided by: Vancouver Island Real Estate Board 6374 Metral Drive, Nanaimo, British Columbia V9T 2L8

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