571 Albert St, Nanaimo, BC, V9R 2W1

Address

571 Albert St, Nanaimo, BC

Listing Type

Commercial

Price

$ 2,490,000

Property Attributes

MLS#1042858
TypeCommercial
Listing Status Active
CityNanaimo
AreaNanaimo
NeighbourhoodNa Central Nanaimo
Postal CodeV9R 2W1
StyleMulti Family
Taxes$ 15228
Price$ 2,490,000
Bedrooms0
Full Bathrooms0
Half Bathrooms0
Sqr Footage6000
Lot Size0.15 Acres

Data Source:

Vancouver Island Real Estate Board (VIREB)

Property Description

Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, sea plane service, shopping centres, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential.

General Features

Sewer	Sewer Connected
Heating	Baseboard
View	City,Mountain(s)
Property Subtype	Multi Family
Property Type	Commercial Sale
Construction Materials	Vinyl Siding
Commercial Area	Downtown
Commercial Listing Type	Building,Land

Interior Features

Flooring	Carpet
Total Units	10

Exterior Features

Lot Features	Easy Access,Family-Oriented Neighbourhood,Recreation Nearby,Shopping Nearby
Water Source	Municipal
Foundation	Poured Concrete,Slab
Building Area Total	6000.00
Lot Size Square Feet	6623.00
Lot Size Acres	0.15
View YN	Yes
Parking Onsite YN	Yes