571 Albert St, Nanaimo
Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, float-plane service, shopping centres, malls, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential. (id:62865)
Status
Active
Property Type
Multi-Family
Ownership
Freehold
Annual Tax
$15,228
Zoning
Unknown
Parcel Number
026-089-921
Data Source
Vancouver Island Real Estate Board
Lot Size
6623.0 sqft
View
City view, Mountain view
Lot Features
Heating
Baseboard heaters
$2,490,000
Office
Sutton Group-West Coast Realty (Nan)
Loan Amount:
$1,992,000
Estimated Monthly Payment:
$9,707
This is an estimate for informational purposes only. Consult with a financial advisor.
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