Attention Builders and Investors: A Rare Opportunity in the Heart of Nanaimo’s University District! This is your chance to secure two separate, fully legal lots (two PIDs), both zoned R5, allowing for the construction of 2 fourplexes. This unique offering is a true income generator as you navigate the permitting process. Lot 1: A 6,457 sq. ft. property featuring a rentable home that is currently vacant—perfect for immediate revenue potential. Lot 2: A 4,525 sq. ft. parcel of vacant land, ready for development. Both lots boast excellent laneway access and are located just a short walk from VIU, a prime area for rental demand. And there’s more—an additional lot is available under a separate MLS listing, presenting the rare opportunity to create a 3 lot, 12-unit project -.Opportunities like this are unheard of in the University District. Whether you’re looking to build, develop, or invest, this is a strategic acquisition you don’t want to miss! All measurements are approximate (id:2493)
Data was last updated April 25, 2025 at 09:45 PM (UTC)
Area Statistics
Listings on market:
140
Avg list price:
$749,450
Min list price:
$249,900
Max list price:
$2,998,800
Avg days on market:
35
Min days on market:
1
Max days on market:
378
Avg price per sq.ft.:
$556.28
These statistics are generated based on the current listing's property type
and located in
University District. Average values are
derived using median calculations.
