Well-maintained 14-unit apartment building in a prime central location offering strong in-place income with clear upside. The suite mix includes twelve spacious 1-bedroom units (approx. 700 sq ft) and two large 2-bedroom units (approx. 1,100 sq ft), many with ocean views. Ideally positioned close to all amenities with covered tenant parking beneath two levels of apartments. Significant recent capital improvements include new roof (2020), siding (2019) and building hot water tank (2025), plus four renovated units in the past 4 years. Built in 1964 on three separately titled city lots totaling over 19,000 sq ft and zoned R8, presenting future redevelopment or densification potential. Stable tenancy with long-term occupants and room to improve returns. Price is plus applicable GST.
Address
700 Poplar St
List Price
$3,100,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Brechin Hill
Lot Size
19215 Sq. Ft.
Lot Size (Acres)
0.44 Ac.
Year Built
1964
MLS® Number
1029875
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