Xia*
#2 - 3179 Barons Rd
Nanaimo, BC
Canada V9R 5B3
Details
Address | 501 Prideaux St |
Area | Nanaimo |
Sub Area | Old City |
State/Province | British Columbia |
Country | Canada |
Price | $1,174,900 |
Property Type | Lots/Acreage |
Bedrooms | 0 |
Bathrooms | 0 |
Lot Size | 14252.00 Square Feet |
Waterfront | No |
Year Built | 0 |
Taxes | $11,578 |
Tax Year | 2023 |
MLS® # | 951995 |
An exceptional Multi family Development opportunity awaits with two distinct development paths, each promising lucrative returns. Firstly, proceed with the 21-unit development, ready for Building Permit application after May 2024. The central location offers 1 bedroom units with similar units selling for $625/sqft in the neighbouring area. The recently upgraded on-grade parking option helps to bring building costs down significantly. Projected rental cash flow is approx. $32K. If stratifying and selling units individually, estimated ROI is approx 35%. Alternatively, consider crafting 9 townhomes (approx. 1300 sqft each), eliminating architect costs and providing substantial savings. In addition, enjoy a property tax exemption through the City of Nanaimo, contributing to long-term financial benefits. Invest wisely in this rapidly growing city grappling with a housing shortage, making this property a prime opportunity for both immediate and sustained returns.
Listed by OAKWYN REALTY LTD. (NA)
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Location
About
Beijing, Sydney, Montreal are the cities where Selina Xia lived, and Nanaimo is the place where she calls home.
After completing a bachelor’s degree in Business English in Beijing and a master’s degree in Human Resource Management in Sydney, Selina began her career as an English Teacher in China, and published five books on English learning. In the meantime, she worked as a career planning teacher in a university, where she instructed a class in which all the students were survivors of the 5.12 Wenchuan Earthquake in 2008. Helping them step out of depression and find a goal in life was one of the most meaningful jobs Selina has done. After giving birth to her first child, Selina moved to Montreal. One year later, attracted by the mild climate and costal scenery, Selina and her family moved to Nanaimo, a charming island city.
Selina believes that there are two turning point in people’s life. One is receiving right education, the other is to buy and sell right real property at right timing. After turning 30, she found herself equipped with enough knowledge and resource for the later. Today, Selina devotes herself to the real estate industry and helps families realize dreams and build wealth.