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501 Prideaux St Nanaimo, British Columbia V9R 2N8

$1,299,900

DEVELOPMENT PERMIT APPROVED! Site in Nanaimo's Old City Quarters for 24 Units. Offering immense potential for developers/investors. This sought-after location has received Development Permit approval in February 2023, putting it ready for the Building Permit stage. This saves time & resources, allowing construction to begin now. The property enjoys a central location, providing convenient access to local amenities, shops, restaurants, & the new fast passenger ferry from Downtown Nanaimo - Downtown Vancouver in 70 minutes! With a mix of 1 bed, 1 bed+den, and 2-bed suites, this building caters to a range of housing needs. This development represents excellent value in 1 of the 5 fastest-growing cities in Canada, which is currently experiencing a major housing shortage. Be a part of the solution and benefit by getting into the market before it's too late. With a preferred completion date of early 2024, this opportunity won't last long. Don't miss out on this prime development opportunity. *Property Tax Exemption through City of Nanaimo* (id:16027)

Property Details

MLS® Number 937685
Property Type Vacant Land
Neigbourhood Old City
Parking Space Total 10
Plan Vip21489

Building

Land

Acreage No
Size Irregular 14252
Size Total 14252 Sqft
Size Total Text 14252 Sqft
Zoning Description Dt8
Zoning Type Multi-family

https://www.realtor.ca/real-estate/25877779/501-prideaux-st-nanaimo-old-city

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Contact Jeff King, Realtor®

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To contact Jeff King directly to discuss your real estate needs, please do one of the following:

Phone me at 250-751-4902
Email me using the form to the right

If you prefer regular mail, you can send me your letter mail in care of the Sutton Group – West Coast Realty address below.

Sutton West Coast Realty

604 – 5800 Turner Road
Nanaimo BC V9T 6J4

Office phone: 250-756-2112
Office fax: 250-756-9144