Boasting an ideal location close to the University, this Fifth Street property comprises two residences situated on a 0.13-acre corner lot, offering the savvy investor an excellent investment opportunity with the potential for multiple income streams. Located just 1 km from the Vancouver Island University campus and an easy 5-minute stroll from the University Village Mall, this pedestrian-friendly area is an attractive and convenient choice for university students and renters alike. Meanwhile, with several neighbourhood parks in the immediate vicinity as well as both an elementary and a high school a 3-minute car ride away (or 14 minutes on foot), this would also be an ideal property for growing families, for multigenerational living, or for those looking for an income helper. Offering a combined 1,958 sqft of well-appointed living space, there is a total of five bedrooms (with the potential for a sixth) and two bathrooms. The authorized secondary suite, the larger of the two spaces, is vacant and offers a functional floor plan for renters or a family. There are three spacious bedrooms upstairs, one of which is large enough to be divided to create a fourth bedroom, and a 4-piece bathroom and laundry room on the main floor. The smaller suite facing Fifth Street is currently tenanted, but will be vacant at the end of June, and provides two further bedrooms, a 4-piece bathroom, and laundry facilities. The lot is low-maintenance and offers both units a dedicated outdoor sitting space, with the bonus of ample off-street parking. A great option for a growing or multigenerational family, a savvy investor, or a combination of both, this ideally located property is sure to tick all the boxes. Don’t miss out on the opportunity to realize the exceptional investment potential this property offers. Data and measurements have been provided by ProPhotoVI, BC Assessment, and the Property Report and should be verified if important.
Address
315 Fifth St
List Price
$699,900
Property Type
Residential
Type of Dwelling
Single Family Residence
Area
Nanaimo
Sub-Area
Na South Nanaimo
Bedrooms
5
Bathrooms
2
Floor Area
1,958 Sq. Ft.
Lot Size
5632 Sq. Ft.
Lot Size (Acres)
0.13 Ac.
Year Built
1943
MLS® Number
994732
Listing Brokerage
Royal LePage Nanaimo Realty (NanIsHwyN)
Basement Area
None
Postal Code
V9R 1N6
Tax Amount
$3,753.00
Tax Year
2024
Features
Baseboard, Electric
Amenities
Central Location, Corner Lot, Shopping Nearby