For sale

$2,040,000

Est. $9,675/mo

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sq ft

531 Kennedy St, Nanaimo, BC V9R 2J6

About this home

Turnkey multi-family cash-flow investment in Nanaimo's Old City Neighbourhood! Built in 2021, this purpose-built asset features 8 efficient studio units engineered for modern, low-maintenance operations. Per the official suite mix, the layout consists of four 436 SF studios and four 329 SF studios. All 8 suites boast premium in-suite laundry, built-in dishwashers, high-speed internet setups, and a rare 1:1 on-site parking ratio (8 dedicated stalls). Generates $138,180 gross annual rental income with a stable, projected NOI of $103,730 (5.08% Cap Rate). BONUS: Active 10-year Downtown Revitalization Tax Exemption has 5 years fully remaining, drastically minimizing net municipal operating expenses. Highly walkable location steps from downtown amenities, transit, shopping, and waterfront ferry terminals. Contact listing agents for full OM. NDA required for data room release. (id:51075)

Multi-familyProperty Type

2021Year Built

9,400 sq ftLot Size

8 spacesParking

Listed by Jed Grieve • NAI Commercial (Victoria) Inc.

Listing updated: Jun 25, 2026 at 12:49pm

Redfin checked: 15 minutes ago

•Source:CREA #1041190

Open houses

No upcoming open houses.

Around this home

Schools
Places
Transit

0.6km

Bayview Elementary School

Public, K-7 • Assigned

1.3km

John Barsby Community School

Public, 8-12 • Assigned

Provided by Local Logic

Lifestyle

Provided by Walk Score and Local Logic

Property details

Exterior

Exterior features
Zoning listed as Unknown

Home design
Property contains 8 units

Parking
8 parking spaces

Sale and tax history for 531 Kennedy St

Sale History
Tax History

Public record

Beds

Baths

Stories

Lot width

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Lot depth

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Lot size

9,405 Sq. Ft.

Year renovated

—

Finished Sq. Ft.

1,281

Unfinished Sq. Ft.

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Total Sq. Ft.

1,281

Year built

1920

Style

Multi-Family (5+ Unit)

Region

Nanaimo Regional District

Parking Spaces

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Basement

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Accessible

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Maintenance Fees

—

Garage

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Features

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Last updated by owner on May 8, 2023.

Contact listing agent

Jed Grieve

NAI Commercial (Victoria) Inc.

250-812-4151

At this time, Redfin doesn't have an agent available to help you with this home.

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