Attention builders and developers - this is the type of site that rarely comes available in North Nanaimo.
Set on nearly 1 acre, this rectangular, gently sloping parcel offers ideal topography and southern exposure - key fundamentals for efficient site planning, natural light optimization, and strong end-product appeal. Located within an established neighbourhood and serviced by municipal water, the property is well-positioned for near-term development.
Zoned R5, and supported by the City of Nanaimo Official Community Plan, the site presents a compelling opportunity for multi-unit residential development, with building strata or clustered housing configurations representing the highest and best use (buyer to verify). The lot configuration lends itself well to multiple dwellings with potential for walk-out basements and secondary suites, maximizing both density and resale value.
The property currently includes two existing dwellings - each serviced and functional - but they are best viewed as interim holding income or site coverage during the planning phase rather than long-term assets.
Main residence: 1,311 sq ft, 3 bed, 2 bath (de-registered manufactured home)
Secondary accommodation: 626 sq ft, 1 bed, 1 bath suite with full kitchen
Separate hydro meters, shared water, serviced septic system (recently maintained)
Additional garage and storage below secondary unit
From a development standpoint, this is a clean, usable parcel with minimal site constraints and strong alignment with current planning policy - an increasingly rare combination in this submarket.
Whether you're assembling your next small-scale project or securing a premium site in a high-demand neighbourhood, this property offers clarity, flexibility, and upside.
Opportunities like this in North Nanaimo are limited - reach out for further due diligence materials or to discuss development potential in detail.
Address
69 Lake Pl
List Price
$899,900
Property Type
Residential
Type of Dwelling
Single Family Residence
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Pleasant Valley
Bedrooms
4
Bathrooms
3
Floor Area
1,937 Sq. Ft.
Lot Size
39204 Sq. Ft.
Lot Size (Acres)
0.9 Ac.
Year Built
1972
MLS® Number
1030322
Listing Brokerage
460 Realty Inc. (NA)
Basement Area
None
Postal Code
V9T 5S1
Tax Amount
$4,638.00
Tax Year
2024
Features
Dryer, Electric, Heat Pump, Mixed, Oven/Range Electric, Range Hood, Refrigerator, Washer, Wood, Wood, Workshop
Amenities
Acreage, Balcony/Deck, Cul-De-Sac, Irregular Lot, Low Maintenance Yard, Private, Quiet Area, Recreation Nearby, Rural Setting, Shopping Nearby, Sloped, Southern Exposure, Square Lot