Attention investors, developers, and savvy buyers! This 3 bedroom, 2 bathroom fixer-upper is packed with potential in one of the most desirable locations in Nanaimo, just a short walk from the university, shops, and local amenities. Zoned for detached duplexes or a 4-plex, this property offers flexible redevelopment options with an active building permit and demolition permit already in place, saving you time and money. The existing home has solid bones and could be transformed into a great income-producing rental property with some renovation and creativity while you wait for the perfect time to build. Whether you’re looking to build new, expand your rental portfolio, or flip for profit, this property checks all the boxes: prime location, flexible zoning, and major permits ready to go. Opportunities like this are rare — don’t miss your chance to capitalize on this property that is priced below assessed value!
Address
561 Fourth St
List Price
$599,900
Property Type
Residential
Type of Dwelling
Single Family Residence
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na University District
Bedrooms
3
Bathrooms
2
Floor Area
1,556 Sq. Ft.
Lot Size
8712 Sq. Ft.
Lot Size (Acres)
0.2 Ac.
Year Built
1955
MLS® Number
1020080
Listing Brokerage
460 Realty Inc. (NA)
Basement Area
Crawl Space, Partially Finished
Postal Code
V9R 1T9
Tax Amount
$3,798.00
Tax Year
2024
Features
F/S/W/D, Mixed, Natural Gas
Amenities
Balcony/Deck, Easy Access, Fencing: Partial, Marina Nearby, Recreation Nearby, Shopping Nearby