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, float-plane service, shopping centres, malls, 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.
Address
571 Albert St
List Price
$2,490,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Central Nanaimo
Lot Size
6623 Sq. Ft.
Lot Size (Acres)
0.15 Ac.
MLS® Number
1042858
Listing Brokerage
Sutton Group-West Coast Realty (Nan)
Postal Code
V9R 2W1
Tax Amount
$15,228.00
Tax Year
2025
Features
Baseboard, Carpet
Amenities
Easy Access, Family-Oriented Neighbourhood, Recreation Nearby, Shopping Nearby