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639 Kennedy St, NANAIMO
2025-10-30
Quick Summary
MLS®#1018397
Property Description
This property offers strong rental income and excellent future potential in the heart of Nanaimo’s Old City. The current dwelling features eight individual studio units with shared bathrooms and laundry facilities, grossing over $6,100 per month in rental revenue. The property is comprised of two separately titled lots, providing an exceptional opportunity for future development—build an additional dwelling on the second lot (details to be confirmed with the City of Nanaimo). Convenient lane access adds further flexibility. Centrally located near downtown amenities, transit, and the waterfront, this property is an ideal addition to any investment portfolio. The home is listed on the heritage register as a non-protected property; it was originally the Dykes Residence. The current use with cooking facilities in each unit has non-conforming status, see more info from City on supplements. All data & measurements are approximate and must be verified if fundamental. (id:32467)
Property Features
Building
- Fireplace: No
- Building Type: Multi-Family
Land
- Land Size: 9405 sqft
Ownership
- Type: Freehold
Zoning
- Description: R14
Information entered by REMAX Professionals (NA)
Listing information last updated on: 2025-10-30 18:23:06
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$500,000
Your One Percent Realty Commission savings†
$500,000
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Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
7% on the first 100k & 2.5% on the balance + GST. Not all agents charge the same.
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Joe Squire REALTOR ® MBA
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