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1015 Park Ave, NANAIMO
2026-01-06
Quick Summary
MLS®#1022548
Property Description
Prime 4.74-acre multi-family development opportunity in South Nanaimo, ideally situated within a rapidly growing neighbourhood characterized by newer, high-quality residential construction. Zoned R10 and designated Suburban Neighbourhood in the Official Community Plan, the property offers attractive territorial views and strong potential for a range of ground-oriented residential development concepts. City staff have confirmed a maximum permitted density of up to 23 dwelling units under the existing R10 zoning, based on the surveyed developable area. The OCP supports a variety of low-rise residential forms, including single-unit dwellings, duplexes, tri-plexes, four-plexes, and townhomes, with densities up to 25 units per hectare and building heights up to three storeys, subject to City approvals. A previously approved 14-unit development permit (now expired) demonstrates established development viability, while updated topographical information indicates a larger developable area than previously identified, potentially supporting expanded design possibilities. Technical materials, including topographical surveys, environmental mapping, and related reports, are available to qualified buyers to assist with concept planning and due diligence. Buyers are encouraged to independently verify development potential, servicing requirements, and all necessary approvals with the City of Nanaimo and qualified professionals. (id:32467)
Property Features
Building
- Fireplace: No
Features
- Feature: Acreage, Central location, Park setting, Southern exposure, Wooded area, Corner Site, See remarks, Other
Land
- Land Size: 4.74 ac
Ownership
- Type: Freehold
Zoning
- Description: R10
Information entered by Sutton Group-West Coast Realty (Nan)
Listing information last updated on: 2026-05-08 22:23:30
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
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.
Savings shown are illustrative only. Actual commission costs depend on the commission structure negotiated with your agent.
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