1400 Townsite Road

About this property

See the mountains from your living room. This recently updated 6-bedroom home is located in central Nanaimo and offers an excellent opportunity for both homeowners and investors. Situated on a quarter-acre double lot with lane access, this is a rare find in Nanaimo. Neighbouring lots have already been subdivided, and the property presents strong redevelopment potential for multiplex or multifamily use. The home was renovated in 2018, including all new appliances. Recent updates include interior paint, a new roof, a new hot water tank, and more. Ideally located just minutes from Nanaimo Regional General Hospital and Vancouver Island University, the property is well positioned to attract both professionals and students. It is also conveniently located near both ferry terminals, with easy access to parks, shops, and other amenities. The property can be rented immediately for an impressive 5% cap rate. Plumbing is already in place downstairs, allowing for the addition of a secondary suite. (id:39198)