This is a rare chance to secure a multifamily development opportunity in one of Nanaimo’s most sought-after neighborhoods. Situated on a .77-acre lot overlooking Departure Bay and just steps from the beach, this property offers an exceptional opportunity for a low-risk, high-return legacy project.
The rezoning process has been completed, with third reading and rezoning approval finalized. The project is now civil-ready, with plans for 13 modern, architecturally designed townhomes by renowned local architect Ian Nimath. This development is poised to be a standout addition to the area.
Adding immediate value, the property currently includes a well-maintained 2,500 sq. ft. home with 7 bedrooms, configured as three separate rental units, providing income potential while you plan your next steps.
The original developer has stepped away, presenting a unique opportunity for you to take the reins and bring this vision to life!
Address
1415 Loat St
List Price
$1,450,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Area
Nanaimo
Sub-Area
Na Departure Bay
Bedrooms
7
Bathrooms
4
Floor Area
2,527 Sq. Ft.
Lot Size
33333 Sq. Ft.
Lot Size (Acres)
0.77 Ac.
Year Built
1947
MLS® Number
984877
Listing Brokerage
eXp Realty (NA)
Basement Area
Finished, Walk-Out Access, With Windows
Postal Code
V9S 3L2
Tax Amount
$7,012.08
Tax Year
2024
Features
Baseboard, Dining Room, Electric, F/S/W/D, French Doors, Hardwood, Hot Tub, Oven/Range Electric, Refrigerator, Space Heater, Workshop
Amenities
Central Location, Easy Access, Family-Oriented Neighbourhood, Fencing: Full, Near Golf Course, Recreation Nearby, Serviced, Southern Exposure