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$717,000
7 Beds ⋅ 4 Baths ⋅ 1043850 MLS
Investor Alert in Nanaimo’s Old City! Don’t miss this rare investment opportunity in the heart of Nanaimo’s historic Old City. This 7-bedroom full duplex offers incredible rental potential, perfect for multi-family living or generating strong rental income. Inside, you’ll find updated electrical and plumbing for peace of mind, plus a shared laundry space for convenience. Outside, enjoy a large back deck with stunning views of Mount Benson—the perfect spot to unwind after a long day. Situated on a 10,494 square foot lot with lane access and just minutes from Vancouver Island University, downtown amenities, and transit, this property offers unbeatable location and functionality. Whether you’re an investor or looking for a home with multiple income streams, this one checks all the boxes!

415 Machleary St, Nanaimo

Courtesy of 460 Realty Inc. (NA)

$649,900
6 Beds ⋅ 6 Baths ⋅ 1040315 MLS
Investor Alert – Income Generator in Central Nanaimo! Located in the heart of Nanaimo’s historic Old City, this versatile property offers rental potential & zoning flexibility (R14 – Old City Low Density/Fourplex). The updated main level is perfect for owner living with charming character, 2-bedrooms, 1-bath & peek-a-boo ocean views from the big back deck. Downstairs there are 4 x bdrm/studio-style rental units, each with its own entrance & 2-piece bath (no kitchens), shared laundry & shower facilities & a common room - perfect for rental income, student housing or group home arrangement. Set in an established neighbourhood of character homes, within easy access to Vancouver Island university, Bowen Park, downtown, waterfront, transit, amenities & more. A rare opportunity to generate multiple income streams while you live on the main level and rent the rest!

58 Pine St, Nanaimo

Courtesy of Pemberton Holmes Ltd. (Cow Vall)

$740,000
8 Beds ⋅ 2 Baths ⋅ 1038726 MLS
This property offers strong rental income and excellent future potential in the heart of Nanaimo’s Old City. The current dwelling features eight individual studio units with shared bathrooms and laundry facilities, grossing over $6,100 per month in rental revenue. The property is comprised of two separately titled lots, providing an exceptional opportunity for future development—build an additional dwelling on the second lot (details to be confirmed with the City of Nanaimo). Convenient lane access adds further flexibility. Centrally located near downtown amenities, transit, and the waterfront, this property is an ideal addition to any investment portfolio. The home is listed on the heritage register as a non-protected property; it was originally the Dykes Residence. The current use with cooking facilities in each unit has non-conforming status, see more info from City on supplements. All data & measurements are approximate and must be verified if fundamental.

639 Kennedy St, Nanaimo

Courtesy of REMAX Professionals (NA)

$514,900
6 Beds ⋅ 3 Baths ⋅ 1038637 MLS
This one is NOT for the faint of heart but it’s a heck of a development opportunity! Just around the corner from the historic Nob Hill park, adjacent the old city quarter and just minutes away from every transportation option to the mainland you’ll find 528 Hecate St. Sitting on a 6,336 sq ft corner lot with R15 Old City Medium Density Residential zoning in place, this property opens the door for redevelopment ideas in an area that continues to evolve. Although the current home has been boarded up for safety, the opportunity here is all about the land, location, and future potential. A demolition quote is available for buyers looking to start fresh. If bringing this 1911 home back to life IS possible there’s currently over 2,800 square feet of structure on site plus an additional unauthorized dwelling at the rear of the property. This is definitely a project… but for the right buyer, builder, or developer, there may be an exciting opportunity to reimagine this property entirely.

528 Hecate St, Nanaimo

Courtesy of eXp Realty (NA)

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