$43,200 ANNUAL RENTAL INCOME + 9,300 SQ. FT. LOT + R8 ZONING! This income-producing property offers investors a compelling combination of current rental revenue and long-term redevelopment potential in Nanaimo’s historic Chinatown neighbourhood. The property currently generates $3,600/month ($43,200/year) in rental income, with month-to-month tenants who wish to stay. The generous 9,300 sq. ft. lot and R8 zoning provide significant long-term potential, making this an attractive holding property for investors looking beyond immediate positive cash flow. The character home features original hardwood floors, coved ceilings, abundant natural light, a bright kitchen with southern views toward Mt. Benson, a spacious living room, and an oversized primary bedroom. A nicely finished 3-bedroom lower suite, private south-facing deck, and fenced backyard add further appeal. Recent updates include a newer roof, windows, and furnace. Conveniently located close to shopping, schools, and transportation. Strong rental income today. Substantial land value and redevelopment potential for tomorrow. Measurements are approximate; buyer to verify. (id:44393)
| MLS® Number | 1051042 |
| Property Type | Single Family |
| Neigbourhood | Old City |
| Features | Central Location, Cul-de-sac, Level Lot, Park Setting, Southern Exposure, Irregular Lot Size, Other |
| Parking Space Total | 2 |
| Plan | Vip9450 |
| Structure | Shed |
| View Type | City View, Mountain View |
| Bathroom Total | 2 |
| Bedrooms Total | 5 |
| Appliances | Dryer, Range - Gas, Refrigerator, Washer |
| Architectural Style | Westcoast |
| Constructed Date | 1955 |
| Cooling Type | None |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 2,093 Ft2 |
| Type | House |
| Street | |
| Open |
| Access Type | Road Access |
| Acreage | No |
| Size Irregular | 9321 |
| Size Total | 9321 Sqft |
| Size Total Text | 9321 Sqft |
| Zoning Description | R-8 |
| Zoning Type | Residential |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Lower Level | Primary Bedroom | 13'6 x 13'8 | ||
| Lower Level | Bedroom | 16'5 x 10'0 | ||
| Lower Level | Bedroom | 12'3 x 8'7 | ||
| Lower Level | Bathroom | 7'8 x 6'8 | ||
| Lower Level | Utility Room | 6'6 x 10'2 | ||
| Lower Level | Kitchen | 14'9 x 6'2 | ||
| Lower Level | Living Room/dining Room | 23'3 x 16'10 | ||
| Lower Level | Other | 4'3 x 7'5 | ||
| Lower Level | Laundry Room | 16'6 x 12'10 | ||
| Main Level | Entrance | 3'10 x 9'0 | ||
| Main Level | Mud Room | 5'10 x 8'9 | ||
| Main Level | Kitchen | 8'0 x 16'10 | ||
| Main Level | Living Room | 17'0 x 12'2 | ||
| Main Level | Dining Room | 8'9 x 7'9 | ||
| Main Level | Bathroom | 9'1 x 7'8 | ||
| Main Level | Bedroom | 14'3 x 10'9 | ||
| Main Level | Primary Bedroom | 18'6 x 11'9 |
https://www.realtor.ca/real-estate/30353817/619-pine-st-nanaimo-old-city
Contact us for more information
Ian Jivraj
(604) 492-5000
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