$3,215,000
$3,450,000
6.8%For more information regarding the value of a property, please contact us for a free consultation.
1420 Estevan Rd Nanaimo, BC V9S 3Y4
10,018 Sqft Lot
Key Details
Sold Price $3,215,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 976431
Sold Date 01/15/25
Rental Info Unrestricted
Year Built 1971
Annual Tax Amount $18,279
Tax Year 2024
Lot Size 10,018 Sqft
Acres 0.23
Property Sub-Type Multi Family
Property Description
5.34% CAP RATE with upside. 16-unit rental apartment. This is an excellent passive income property and an attractive suite mix: 2 bachelor units, 11 one-bedroom units, and 3 two-bedrooms units. Overlooking Departure Bay, 1420 Estevan Road features ocean views and is within an area coveted for its walk-ability to Terminal Avenue Shopping Centre, Departure Bay Ferry Terminal, downtown and Stewart Avenue marinas. Below market rents providing the purchaser with great upside opportunity upon tenant turnover. Contact listing agents for further information
Location
Province BC
County Nanaimo, City Of
Area Na Central Nanaimo
Zoning R8
Exterior
Parking On Site 1
Building
Lot Description Central Location, Easy Access, Shopping Nearby
Sewer Sewer Connected
Water Municipal
Others
Restrictions ALR: No
Tax ID 003-915-182
Ownership Freehold
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Bought with Engel & Volkers Vancouver Island