531 Kennedy St Nanaimo, British Columbia V9R 2J6
$2,040,000
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. (id:63400)
Property Details
| MLS® Number | 1041190 |
| Property Type | Multi-family |
| Neigbourhood | Old City |
| Parking Space Total | 8 |
| Plan | Vip584 |
Building
| Constructed Date | 2021 |
| Size Exterior | 3060 Sqft |
| Type | Multi-family |
Land
| Acreage | No |
| Size Irregular | 9400 |
| Size Total | 9400 Sqft |
| Size Total Text | 9400 Sqft |
| Zoning Description | R15 |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/29939676/531-kennedy-st-nanaimo-old-city
Jed Grieve
4243 Glanford Ave
Victoria, British Columbia V8Z 4B9
(250) 381-2265
(250) 381-7803
www.naivictoria.ca/
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
June 25 2026 03:27:51
Victoria Real Estate Board
Nai Commercial (Victoria) Inc.