Discover an exceptional opportunity in the heart of Nanaimo, just a 15 minute drive from Duke Point Ferry Terminal. This spacious 5-bedroom property is nestled on a sprawling 19,483 sq ft lot, boasting 2,124 sq ft of interior living space across 2 floors. Ideal for fixer-upper enthusiasts, this property holds promise with multiple avenues for returns. Choose to renovate and leverage the MLS market, or explore the option of subdividing the land and selling individual lots. Priced at an attractive $399,000—substantially below market value—this property offers an irresistible chance for a smart investor to unlock its full potential. Embrace the journey across the ferry to Nanaimo, where a fantastic deal awaits!

We are selling our assignable purchase contract.

Closing is September 3rd, 2024

**The Buyer and Seller agree that the Seller may leave their furniture and belongings in the property upon closing.** 

• Owner occupied
• 5 bedrooms
  • 3 bedrooms located on the main floor
  • 2 bedrooms located in the basement
• 1 bathroom
  • 4-piece bathroom located on the main floor
• Built in 1915
• Total interior square footage: 2124 sq ft (as per BC Assessment) 
• Main floor: 1118 sq ft (as per BC Assessment)
  • Features 3 bedrooms, 1 bathroom, eat-in kitchen, living room and sunroom
• Basement: 1006 sq ft (as per BC Assessment)
  • Features 2 bedrooms, laundry room and pantry/storage room
  • Height is 6ft (as per Seller)
  • During heavy rain water gathers in one area in the basement. A channel has been built which allows this water to flow out of the property
• All appliances will be included
• Sunroom on main floor was built with permits in 2014 (as per Seller)
  • Has tongue and groove cedar walls with vinyl exterior siding. Sunroom still has an active building permit and is an ‘unfinished addition’ – it has received all approvals needed other than an inspection of the siding and vapor barrier. Minutes from a Regional District of Nanaimo board meeting relating to the matter: HERE
• Gas fireplace is located in the basement
• Flooring: linoleum, laminate and bare concrete
• 100 AMP breaker panel was updated in 2014 (as per Seller)
• Furnace was installed in 2015 (as per Seller)
• Heat pump was installed in 2015 (as per Seller)
• HWT was installed in 2015 (as per Seller)
• Windows are double pane aluminum
• Roof was replaced in 1994 (as per Seller)
• Stucco and vinyl siding
• On municipal water and septic
  • Septic tank was last serviced 2022 (as per Seller)
• Lot size: 19483 sq ft (as per BC Assessment)
• Zoning: RS2 Residential (as per THIS zoning map)
  • RS2 zoning allows for Secondary Suites (see pg 3-22 of zoning Bylaw). There are no bodies of water on or near the property and the property is not in a floodplain – HERE