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Attention Builders and Investors: Opportunity in the Heart of Nanaimo’s University District! 585 Hillcrest St. This is your chance to purchase an R5 Lot to build up to a 4 Plex. This 4550 sq. ft parcel of vacant land is ready for your ideas and development. This lot boasts excellent laneway access and is located just a short walk from VIU, a prime area for rental demand. And there’s more—there is also 2 more separate lots and PIDS available under a separate MLS listing. This unique offering is a true income generator as you navigate the permitting process. Lot 1: A 6,457 sq. ft. property featuring a rentable home that is currently vacant—perfect for immediate revenue potential. Lot 2: A 4,525 sq. ft. parcel of vacant land, ready for development. Presenting the rare opportunity to create a 3 lot, 12-unit Project. Whether you’re looking to build, develop, or invest, this is a strategic acquisition you don’t want to miss!
- Property Type:
- Commercial Sale
- Type:
- Unimproved Land
- Commercial Type:
- Land
- Lease Type:
- Sale Price
- Close Price Lease Total:
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- Existing Lease Expiry:
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- Listing General Location:
- Na University District, Nanaimo
- Bathrooms:
- - (Full:-/Half:-)
- Lot Size:
- 4,525 sq. ft.
- Taxes:
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- Pending Date:
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- Main Level
- 0
- Yes
- No
- Unrestricted
- Financing Notes:
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- Assessed:
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- Assessment year:
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- Approximate Inventory Value:
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- Fixed Equipment Approx. Value:
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- Goodwill Approx. Value:
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- Gross Income:
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- Net Operating Income:
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- Association Fee:
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- Association Fee Frequency:
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- Parking Features:
- On Site
- Total Units:
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- Date Listed:
- Jan 21, 2025
- Original Price:
- 425000.0
- Status:
- Active
- Prop. Type:
- Commercial Sale
- MLS® Num:
- 985171
Area Statistics
- Listings on market:
- 104
- Avg list price:
- $1,037,500
- Min list price:
- $19,900
- Max list price:
- $24,517,000
- Avg days on market:
- 78
- Min days on market:
- 1
- Max days on market:
- 444
These statistics are generated based on the current listing's property type
and located in
Nanaimo. Average values are
derived using median calculations. This data is not produced by the MLS® system.
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Photo 1 of 1
Listed by RE/MAX of Nanaimo
Data was last updated July 13, 2025 at 02:05 AM (UTC)
Area Statistics
- Listings on market:
- 104
- Avg list price:
- $1,037,500
- Min list price:
- $19,900
- Max list price:
- $24,517,000
- Avg days on market:
- 78
- Min days on market:
- 1
- Max days on market:
- 444
These statistics are generated based on the current listing's property type
and located in
Nanaimo. Average values are
derived using median calculations. This data is not produced by the MLS® system.
- JEFF MEYER
- eXp Realty Canada
- 1.250.885.2047
- Info@VIREG.ca
