Property Information:

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 centers, 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. Well 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.

Property Features:

Annual Tax Amount: $15,228
Construction Materials: Vinyl Siding
Floor Space (approx): 6000 Square Feet
Flooring: Carpet
Foundation Details: Concrete Perimeter, Slab
Heating: Baseboard
Lot Features: Easy Access, Family-Oriented Neighbourhood, Recreation Nearby, Shopping Nearby
Lot Frontage: 6623 Square Feet
Lot Size: 6623.00 Square Feet
Ownership: Freehold
Parking Features: On Site
Property Sub Type: Multi Family
Utilities: Cable Connected, Electricity Connected, Phone Available
View: City, Mountain(s)
Water Source: Municipal
Sewer:

Courtesy of: Sutton Group-West Coast Realty (Nan)

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.

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Demographic Information of 571 Albert St, Nanaimo, BC, V9R 2W1

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$81,880.57

Average Number of Children

1.64

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

14.73 %

High school certificate or equivalent

29.87 %

Apprenticeship trade certificate/diploma

9.41 %

College/non-university certificate

18.76 %

University certificate (below bachelor)

2.73 %

University Degree

24.5 %

Commuter

Travel To Work

By Car

71.36 %

By Public Transit

8.36 %

By Walking

16.2 %

By Bicycle

1.42 %

By Other Methods

2.66 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

56.5 %

Houses

43.5 %

571 Albert St, Nanaimo, BC, V9R 2W1