- ©MLS 996747
- Area 2668 sq ft
- Bedrooms 3
- Bathrooms 2
- Parkings 4
Description
This centrally located property in the heart of Nanaimo offers an exceptional opportunity for small to mid-scale developers looking to enter or expand within the multi-family market. Currently operating as a single-family residence with consistent rental revenue, the true value lies in the development potential already unlocked. The City of Nanaimo has approved a development permit for a well-designed fourplex consisting of four three-bedroom units, each with family-oriented floorplans and private exterior balconies. Notably, two of the units will feature limited ocean views. Designed with both community and privacy in mind, each unit features a townhouse-style entry with its own exterior door. This layout not only enhances curb appeal but fosters a sense of individual identity and ownership while still creating a cohesive community atmosphere—an increasingly desirable feature among modern homebuyers. This project is a rare find in the Nanaimo market, where new three-bedroom units are in short supply. The design directly addresses the growing demand for attainable housing by providing family-sized units that can serve both the end-user homeowner and the long-term investor. The development fulfills all City parking requirements and has been thoughtfully conceived as a missing middle solution—offering practical density without compromising livability or neighborhood character. With the Development Permit in place and a well-positioned floorplan design in a supply-constrained market, this is a strong candidate for a build-to-sell or build-to-hold strategy. Measurements Approx. Verify if important. (id:48970) Show More
Details
- Constructed Date: 1910
- Property Type: Single Family
- Type: House
- Total Finished Area: 1334 sqft
- Neighbourhood: Old City
Features
- Ocean view
- Forced air
Rooms Details For 532 Prideaux St
| Type | Level | Dimension |
|---|---|---|
| Bathroom | Main level | Measurements not available x 4 ft |
| Bathroom | Main level | 7 ft x 6 ft |
| Bedroom | Main level | 15'10 x 12'8 |
| Bedroom | Main level | 12'6 x 12'9 |
| Bedroom | Main level | 12 ft x 12 ft |
| Kitchen | Main level | 17'3 x 13'7 |
| Living room | Main level | 17'3 x 18'3 |
| Entrance | Main level | 12 ft x Measurements not available |
Location
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Data provided by: Vancouver Island Real Estate Board