Address
571 Albert St, Nanaimo, BC
Price
$ 2,490,000
Property Attributes
  • MLS#1042858
  • TypeCommercial
  • Listing Status Active
  • CityNanaimo
  • AreaNanaimo
  • NeighbourhoodNa Central Nanaimo
  • Postal CodeV9R 2W1
  • StyleMulti Family
  • Taxes$ 15228
  • Price$ 2,490,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6000
  • Lot Size0.15 Acres
Data Source:
Vancouver Island Real Estate Board (VIREB)
Property Description

Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, sea plane service, shopping centres, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential.

General Features

Sewer Sewer Connected
Heating Baseboard
View City,Mountain(s)
Property Subtype Multi Family
Property Type Commercial Sale
Construction Materials Vinyl Siding
Commercial Area Downtown
Commercial Listing Type Building,Land

Interior Features

Flooring Carpet
Total Units 10

Exterior Features

Lot Features Easy Access,Family-Oriented Neighbourhood,Recreation Nearby,Shopping Nearby
Water Source Municipal
Foundation Poured Concrete,Slab
Building Area Total 6000.00
Lot Size Square Feet 6623.00
Lot Size Acres 0.15
View YN Yes
Parking Onsite YN Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in V9R 2W1

Price
AVG $2.49M
$2.49M
Taxes
AVG $15,228
$15,228
Visits
AVG 13
13
Data Provided by Inside Real Estate®

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