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438 Wakesiah Ave, NANAIMO
2026-03-30
Quick Summary
- Location
- 438 Wakesiah Ave, NANAIMO, British Columbia V9R3K8
- Price
- $5,560,000
- Status:
- For Sale
- Property Type:
- Multi-family
MLS®#1030328
Property Description
Prime Student Housing Investment with Licensed Inn Component – Nanaimo, BC Ideally located directly across from Vancouver Island University (VIU), this purpose-built student housing property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. The building features 25 units (13 single-bed & 12 double-bed), totaling 37 beds, with consistently strong occupancy driven by reliable student demand. Its prime location supports steady, recession-resistant income and long-term rental stability. A key highlight is the approved inn license, allowing up to 12 rooms for short-term rental use. This flexible hybrid model provides excellent upside—maintain stable income from student rentals while increasing returns through short-term accommodation, especially during summer months.Built with durability and low maintenance in mind, features include granite countertops, quartz-tiled entry, modern finishes, Low-E windows, multi-zone hot water heating, and a pressurized water system. Additional amenities include on-site laundry, bike storage, 15 rear parking stalls, lane-access parking, and full security camera coverage. Conveniently located close to shopping, recreation, and transit, further enhancing tenant appeal. Stable income with strong upside potential. Measurements approximate; verify if important. (id:32467)
Property Features
Building
- Cooling Type: None
- Fireplace: No
- Building Type: Multi-Family
Features
- Feature: Central location, Level lot, Southern exposure, Sloping, Other
Land
- Land Size: 12917 sqft
Ownership
- Type: Freehold
Zoning
- Description: COR1
Information entered by REMAX Professionals (NA)
Listing information last updated on: 2026-03-30 11:32:16
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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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Joe Squire REALTOR ® MBA
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- (250) 802-5899
- Mobile:
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- Email:
- mynanaimohome@gmail.com
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- 250-616-2098
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