This 23,640 sq. ft. property offers endless development potential in one of Nanaimo’s most sought-after areas. Whether you envision constructing two fourplexes, retaining the existing home and subdividing the back lot for two spec homes, or pursuing a land assembly with the neighboring lot to create multifamily townhomes (up to 29 units), the possibilities are yours to explore.
The property currently features a 3,100 sq. ft. home with 5 bedrooms and 2 bathrooms, generating rental income as you plan your next investment move.
Situated in the desirable Departure Bay neighborhood, this property boasts ocean views and is within walking distance to the beach. This is a rare chance to develop in a vibrant area with significant growth potential. Preliminary design sketches regarding land assembly are availalbe.
Address
2555 Departure Bay Rd
List Price
$1,100,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Area
Nanaimo
Sub-Area
Na Departure Bay
Bedrooms
5
Bathrooms
1
Floor Area
3,151 Sq. Ft.
Lot Size
23626.8 Sq. Ft.
Lot Size (Acres)
0.54 Ac.
Year Built
1951
MLS® Number
984870
Listing Brokerage
eXp Realty (NA)
Basement Area
Finished, Walk-Out Access, With Windows
Postal Code
V9S 3W2
Tax Amount
$4,984.79
Tax Year
2024
Features
Dishwasher, Dryer, Forced Air, Hardwood, Natural Gas, Oven/Range Electric, Refrigerator, Washer
Amenities
Central Location, Easy Access, Family-Oriented Neighbourhood, Fencing: Full, Level, Marina Nearby, Near Golf Course, Recreation Nearby, Rectangular Lot, Serviced