Wes Smith RE/MAX Ocean Pointe

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New property listed in Z4 Old City, Zone 4 - Nanaimo

I have listed a new property at 639 KENNEDY STREET in NANAIMO.
Downtown buiding lot (R14 zoning - up to 4 plex, no DCCs) on Kennedy Street - comes with an (almost) 114 year home on separate lot (separate title but must be sold together). Great revenue property for the right buyer. Build a 4-plex on the back while receiving income from the house on the other lot! The house is grossing $4200/month income as student residence (8 separate units). Coin laundry for tenants use adds extra income. Over $40,000 in updates recently - including new flooring, renovated bathroom, new kitchens, some new appliances, new back deck and stairs. Newer roof and furnace. Updated plumbing and wiring throughout. Newer siding, newer carpeting, and much more. The basement features a garage and lots of storage space. The yard is fully fenced and very private with pear and hazelnut trees - and features a patio for use by the tenants. Vacancies are rare. Great tenants in place (all VIU students). Rental is authorized by the City of Nanaimo. Info pack avail.