Prime Development Opportunity! This 1.42-acre site is fairly level and offers 328 feet of frontage and is an ideal rezone to Medium to High-density Residential development, Commercial Center or mixed use Residential and Commercial development. Strategically located in Chase River, south of Nanaimo, the property is in close proximity to Southgate Shopping Centre and other amenities, providing convenience for future residents. The property is connected to city services and includes a fully remodeled 2,337 sq. ft. residence with 3 bedrooms and 2 bathrooms, offering immediate rental income potential or a temporary residence during development. The property is also equipped with an 822 sq ft detached shop and a large level fenced yard, adding to the property's versatility. Easy access to the Island Highway and downtown makes this location highly desirable for commuters and enhances the attractiveness for future development. Rezoning maximizes the land's value and development potential, making it an excellent investment for developers as land like this is very rare in Nanaimo. With the existing home providing immediate revenue and the land's development potential, this property represents a strong investment opportunity. Information package available by request. (id:47423)
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Detailed Information
Bedrooms
3
Bathrooms
2
Features
Acreage, Level lot, Irregular lot size, Partially cleared, Other
Listing Contract Date
2024-06-03
Municipal ID
006-449-301
Ownership Type
Freehold
# of Parking Spaces
8
Property Type
Single Family
Transaction Type
For sale
Zoning Description
R1
Zoning
Residential
Building
Constructed Date
1960
Cooling Type
Air Conditioned
Heating Fuel
Electric
Heating Type
Heat Pump, Heat Recovery Ventilation (HRV)
Total Finished Area
2337 sqft
Type
House
Rooms
Room
Level
Dimensions
Notes
Bathroom
Lower level
3-Piece
Laundry room
Lower level
9'1 x 6'6
Storage
Lower level
15'11 x 17'11
Family room
Lower level
23'3 x 17'8
Entrance
Main level
4'6 x 4'6
Bathroom
Main level
5-Piece
Bedroom
Main level
10 ft x Measurements not available
Bedroom
Main level
12 ft x Measurements not available
Primary Bedroom
Main level
12'3 x 11'8
Kitchen
Main level
18'2 x 13'11
Living room
Main level
18 ft x 13 ft
Land
Total Size
1.42 acres
Access Type
Road access
Acreage
Yes
Size of Irregular Land
1.42
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