Rare investment opportunity with this well-maintained 14-unit apartment building in a coveted central location. Featuring twelve spacious 1-bedroom units (approx. 700 sq ft) and two 2-bedroom units (approx. 1100 sq ft). Many units enjoy ocean views and the property is ideally located close to all amenities with tenant parking underneath the 2 floors of apartments. Recent updates include a new roof (2020), new siding (2019), and a new building hot water tank (2025). Four units have been renovated in the past 4 years. Built in 1964, the building sits on 3 separately titled city lots totalling over 19,000 sq ft and is zoned R8. Steady income with solid tenants, there is upside as many are long term. Price is plus applicable GST.
Address
700 Poplar St
List Price
$3,500,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Area
Nanaimo
Sub-Area
Na Brechin Hill
Lot Size
19215 Sq. Ft.
Lot Size (Acres)
0.44 Ac.
Year Built
1964
MLS® Number
1002817
Listing Brokerage
Royal LePage Nanaimo Realty (NanIsHwyN)
Postal Code
V9S 2H6
Tax Amount
$15,474.00
Tax Year
2024
Features
Hot Water, Natural Gas
Amenities
Balcony/Deck, Balcony/Patio, Central Location, Corner Lot, Easy Access, Level, Marina Nearby, Near Golf Course, Recreation Nearby, Serviced, Shopping Nearby, Southern Exposure