Description
223 Victoria Road presents a rare and highly strategic multi-family development opportunity in Nanaimo. Unlike the large-scale multi-family projects that dominate the market and require substantial working capital, this approved four-unit townhouse-style complex offers a more accessible entry point for builders while maintaining strong investment potential. The property is ideally situated within walking distance of downtown and central shopping, ensuring long-term desirability. This project features a unique mix of residential and live-work spaces. The standout unit is a rare live-work design with a 521 sq. ft. ground-floor office space that connects via an internal staircase to a two-bedroom, 774 sq. ft. residential unit above. The second level also has a separate exterior entrance, maximizing functionality and rental appeal. The remaining three units are well-designed two-bedroom residences of approximately 820 sq. ft., each with a private outdoor deck and townhouse-style exterior access. A key highlight of this development is the shared rooftop deck, offering exceptional ocean views of Nanaimo Harbour. With a total project size of 4,728 sq. ft., this development strikes the perfect balance between financial feasibility and high-quality urban living. The approved plans allow for an efficient and profitable build, making it an ideal opportunity for both small and mid-sized developers. 223 Victoria Road is a rare chance to bring a modern, adaptable multi-family project to market in a prime location. With approvals in place and a compelling design, this is a project that stands out in Nanaimo's evolving real estate landscape. Serious inquiries are welcome. (id:13843)
Details
| MLS # | 1023348 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 282 |
| Listing Provided By | Real Broker | Kelly Whitton |
Features
| Zoning | Unknown |
|---|---|
| Acreage | 0.11 |
Interior
| Fireplace Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 0 |
|---|
Area Information
| Province | BC |
|---|---|
| City | Nanaimo |
| Postal Code | V9R4P7 |
| Listing VS Median (in V9R4P7) | |
Price: $375,000 low | high Med: $450,000 On site: 282 low | high Med: 64 | |
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Learn More About This Property
| Province | BC |
|---|---|
| City | Nanaimo |
| Postal Code | V9R4P7 |
| Listing VS Median (in V9R4P7) | |
Price: $375,000 low | high Med: $450,000 On site: 282 low | high Med: 64 | |
