$524,900

Investment For Sale In Departure Bay, Nanaimo, British Columbia

$524,900

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.