This is a rare chance to secure a multifamily development opportunity in one of Nanaimo’s most sought-after neighborhoods. Situated on a .77-acre lot overlooking Departure Bay and just steps from the beach, this property offers an exceptional opportunity for a low-risk, high-return legacy project. The rezoning process has been completed, with third reading and rezoning approval finalized. The project is now civil-ready, with plans for 13 modern, architecturally designed townhomes by renowned local architect Ian Nimath. This development is poised to be a standout addition to the area. Adding immediate value, the property currently includes a well-maintained 2,500 sq. ft. home with 7 bedrooms, configured as three separate rental units, providing income potential while you plan your next steps. The original developer has stepped away, presenting a unique opportunity for you to take the reins and bring this vision to life! (id:4069)
Address
1415 Loat St
List Price
$1,450,000
Property Type
Single Family
Type of Dwelling
House
Area
British Columbia
Sub-Area
Nanaimo
Bedrooms
7
Bathrooms
4
Floor Area
3,031 Sq. Ft.
Lot Size
0.77 Sq. Ft.
Year Built
1947
MLS® Number
984877
Listing Brokerage
eXp Realty (NA)
Postal Code
V9S3L2
Zoning
R1
Site Influences
View
Features
Central location, Southern exposure, Other
With 15 years of real estate experience, Chris Crump, PREC, is a consistent high performer known for unwavering ethics and exceeding expectations. As a trusted advisor, Chris delivers unparalleled customer service. Chris enjoys skiing, biking, and fishing, reflecting a well-rounded lifestyle resonating with clients. With a commitment to guiding clients toward their real estate goals, Chris stands as a beacon of reliability, setting the standard for exceptional service.