Turnkey multi-family cash-flow investment in Nanaimo's Old City Neighbourhood! Built in 2021, this purpose-built asset features 8 efficient studio units engineered for modern, low-maintenance operations. Per the official suite mix, the layout consists of four 436 SF studios and four 329 SF studios. All 8 suites boast premium in-suite laundry, built-in dishwashers, high-speed internet setups, and a rare 1:1 on-site parking ratio (8 dedicated stalls). Generates $138,180 gross annual rental income with a stable, projected NOI of $103,730 (5.08% Cap Rate). BONUS: Active 10-year Downtown Revitalization Tax Exemption has 5 years fully remaining, drastically minimizing net municipal operating expenses. Highly walkable location steps from downtown amenities, transit, shopping, and waterfront ferry terminals. Contact listing agents for full OM. NDA required for data room release.
Address
531 Kennedy St
List Price
$2,040,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Old City
Lot Size
9400 Sq. Ft.
Lot Size (Acres)
0.21 Ac.
Year Built
2021
MLS® Number
1041190
Listing Brokerage
NAI Commercial (Victoria) Inc.
Postal Code
V9R 2J6
Tax Amount
$7,873.47
Tax Year
2025