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$2,580,000
Est. payment /mo
4.74 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1022549
Rental Info Unrestricted
Annual Tax Amount $11,186
Tax Year 2025
Lot Size 4.740 Acres
Acres 4.74
Property Sub-Type Unimproved Land
Property Description
Prime Multi-Family Development Opportunity in South Nanaimo! This is an exceptional 4.74-acre development site in one of Nanaimo's fastest-growing neighborhoods, surrounded by newly built million-dollar homes. A now expired development permit for a multi-family development, consisting of 14 single-family homes, was approved in 2017, but a new survey supports up to 23 single-family homes or stacked townhouses with the current R10 zoning. And the City may allow site-specific density up to 35 units with a feasible site design meeting zoning guidelines. As well, the Citywide Parking Review has eased parking requirements, adding more potential benefits. Ideally located near transit, schools, shopping and VIU, this is an opportunity to provide modern, affordable homes in a highly desirable location. Due diligence reports available to serious buyers. The Buyer must independently verify all property details and development potential through the City of Nanaimo or qualified professionals.
Location
Province BC
County Nanaimo, City Of
Area Na South Nanaimo
Zoning R10
Exterior
View Y/N Yes
View City, Mountain(s)
Building
Lot Description Acreage, Central Location, Corner, Easy Access, Family-Oriented Neighbourhood, Park Setting, Recreation Nearby, Shopping Nearby, Sidewalk, Southern Exposure, Wooded Lot, See Remarks
Water Municipal
Others
Pets Allowed Yes
Tax ID 026-876-795
Ownership Freehold
Virtual Tour https://youtu.be/Vo-bE6tczgo
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Listed by Sutton Group-West Coast Realty (Nan)