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438 Wakesiah Ave
Na University District Nanaimo V9R 3K8

$5,899,000
Commercial Sale

Main Photo: 438 Wakesiah Ave in Nanaimo: Na University District Multi Family for sale : MLS®# 969288
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Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
969288
Presenting a unique investment opportunity: an award-winning student housing apartment building located on Vancouver Island. This prime property is situated directly across from Vancouver Island University, ensuring a steady and consistent occupancy rate. The three-level building comprises 25 fully-equipped units, including 13 one-bedroom and 12 two-bedroom apartments. Each unit features its own kitchen and bathroom, providing students with privacy and convenience. Granite countertops throughout add a touch of luxury to these modern living spaces. Each floor offers a common area designed to foster communication and community among residents. Additionally, every level is equipped with a public washroom and a coin-operated laundry facility for added convenience. The lower level includes a secure bike storage room, catering to the needs of environmentally-conscious students. The property boasts 17 parking spaces located in the back lane, providing ample parking for residents.
Property Type:
Commercial Sale
Type:
Multi Family
Commercial Type:
Building
Lease Type:
Sale Of Shares
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Na University District, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
12,917 sq. ft.
Taxes:
Building Features:
Basement, Bike Storage, Laundry Room, Parking, Security System, Shopping Nearby, Storage Room, Transit Nearby, Visual Exposure
Construction:
Frame Wood, Insulation All, Insulation: Ceiling, Insulation: Walls
Electricity:
Yes
Ceiling Heights:
Floor finish:
Carpet, Mixed, Tile
Total Building Area:
13,264 sq. ft.
Commercial Area:
Water supply:
Municipal
Sewer:
Sewer Connected
Cooling:
None
Heating:
Baseboard, Hot Water, Natural Gas
Fireplace:
No
Pending Date:
Electric, Fixtures, Parking
Balcony, Balcony/Deck, Low Maintenance Yard, Security System
City, Mountain(s)
Main Level
0
Yes
No
Unrestricted
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Nanaimo
Legal Description:
Zoning:
COR1
Units in Building:
Units in Community:
Other Equipment:
Security System
Occupancy:
Tenant
Utilities:
Cable Available, Cable Connected, Electricity Connected, Garbage, Natural Gas Connected, Phone Connected, Recycling, Underground Utilities
Lot Site Features:
Central Location, Easy Access, Landscaped, Level, Recreation Nearby, Shopping Nearby, Sloped, Southern Exposure
Parking Features:
On Site
Total Parking Spaces:
17
Road Frontage Type:
Lane
Road Surface Type:
Paved
Business Name:
Cold Moon Student House
Business Type:
Accommodation
Total Units:
Date Listed:
Jul 02, 2024
Original Price:
5899000.0
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Listed by Sutton Group-West Coast Realty (Nan) and Nu Stream Realty Inc
Data was last updated November 24, 2024 at 12:05 PM (UTC)
Area Statistics
Listings on market:
97
Avg list price:
$1,199,000
Min list price:
$23
Max list price:
$11,500,000
Avg days on market:
76
Min days on market:
3
Max days on market:
537
These statistics are generated based on the current listing's property type and located in Nanaimo. Average values are derived using median calculations.
Harrison Thompson
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.