571 Albert St, Nanaimo, BC V9R 2W1
571 Albert St, Nanaimo, BC V9R 2W1
571 Albert St, Nanaimo, BC V9R 2W1
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Office RE/MAX Generation

Office RE/MAX Generation

+1(250) 294-6683
Listed by Michael Guan Sutton Group-West Coast Realty (Nan)
$2,490,000
Est. payment /mo
6,000 SqFt
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UPDATED:

Key Details

Property Type Commercial Sale

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,000 sqft

Price per Sqft $415

MLS Listing ID 1042858

HOA Y/N No

Annual Tax Amount $15,228

Tax Year 2025

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Multi Family

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.

Location

Province BC

County Nanaimo Regional District

Community Na Central Nanaimo

Area Nanaimo

Interior

Heating Baseboard

Flooring Carpet

Fireplace No

Exterior

Parking Features On Site

Utilities Available Cable Connected, Electricity Connected, Phone Available

View Y/N Yes

View City, Mountain(s)

Garage No

Building

Lot Description Easy Access, Family-Oriented Neighbourhood, Recreation Nearby, Shopping Nearby

Foundation Concrete Perimeter, Slab

Sewer Sewer Connected

Water Municipal

Others

Ownership Freehold

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.

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