Property Information:

Cash flowing $2200/month, If you want to live/build in the best area of departure bay this is one of the best entrances tolive on a Clean 7200 sq ft lot surounded by mature established properties & set along theedge of a plateau giving you a sweeping ocean view over popular Departure Bay beach with itsbeautiful boardwalk & commercial amenities. Weather looking to raise your family, enjoy yourretirement or develop a property in an attractive neighborhood this land can provide you with thecompetitive edge you have been looking for. R5 zoned allows for up to 4 units of residential. Ifcombined with adjacent 1630 loat st doubling your site to 14400 sq ft & develop up to 8 unitsacross both lots. Utilizing the sewer right of way for site access/parking in a proposed development plan can quickly turn the typically viewed negative(right of way) into a nutrel/netpositive when looking to maximize your buildout. Single or multifamily development these sites areready for any of your future plans

Property Features:

Annual Tax Amount: $2,535
Construction Materials: Frame Wood
Exterior Features: Fencing: Partial
Floor Space (approx): 641 Square Feet
Flooring: Carpet, Laminate
Heating: Baseboard, Electric
Lot Features: Rectangular Lot, Serviced, Southern Exposure
Lot Frontage: 7230 Square Feet
Lot Size: 7230.00 Square Feet
Ownership: Freehold
Parking Features: On Site
Property Sub Type: Multi Family
Road Surface Type: Paved
View:
Water Source: Municipal
Zoning: Multifamily R5
Sewer:

Courtesy of: William Wright Commercial Real Estate Services

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.

More Detail

Less Detail

Demographic Information of 1620 Loat St, Nanaimo, BC, V9S 3L4

Life Stage

Young Couples

Employment Type

Service Sector/White Collar

Average Household Income

$121,982.41

Average Number of Children

1.49

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

9.1 %

High school certificate or equivalent

32.94 %

Apprenticeship trade certificate/diploma

8.05 %

College/non-university certificate

20.5 %

University certificate (below bachelor)

2.42 %

University Degree

27.0 %

Commuter

Travel To Work

By Car

84.32 %

By Public Transit

3.08 %

By Walking

7.57 %

By Bicycle

0.92 %

By Other Methods

4.11 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

26.6 %

Houses

73.4 %

1620 Loat St, Nanaimo, BC, V9S 3L4