Property Information:
12 unit apartment building located at 160 Stewart Ave in a Prime Nanaimo location, just 1 block from the waterfront. This well maintained, three storey property (built in 1966) offers strong investment potential with below market rents and significant upside on tenant turnover. Minimal immediate capital expenditures required, with a new roof installed in 2019. Situated on an 8,712 sq ft lot and zoned R8 (Medium Density Residential) the property benefits from onsite surface parking and excellent walkability to downtown Nanaimo amenities, services, transit, parks and the waterfront. Located in a quiet, established residential neighbourhood with convenient access to key commercial corridors. Attractive price per door enhances the opportunity seeking stable income with future growth potential.
