Prime 4.74-acre multi-family development opportunity in South Nanaimo, ideally situated within a rapidly growing neighbourhood characterized by newer, high-quality residential construction. Zoned R10 and designated Suburban Neighbourhood in the Official Community Plan, the property offers attractive territorial views and strong potential for a range of ground-oriented residential development concepts. City staff have confirmed a maximum permitted density of up to 23 dwelling units under the existing R10 zoning, based on the surveyed developable area. The OCP supports a variety of low-rise residential forms, including single-unit dwellings, duplexes, tri-plexes, four-plexes, and townhomes, with densities up to 25 units per hectare and building heights up to three storeys, subject to City approvals. A previously approved 14-unit development permit (now expired) demonstrates established development viability, while updated topographical information indicates a larger developable area than previously identified, potentially supporting expanded design possibilities. Technical materials, including topographical surveys, environmental mapping, and related reports, are available to qualified buyers to assist with concept planning and due diligence. Buyers are encouraged to independently verify development potential, servicing requirements, and all necessary approvals with the City of Nanaimo and qualified professionals.
Address
1015 Park Ave
List Price
$2,380,000
Property Type
Commercial Sale
Type of Dwelling
Unimproved Land
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na South Nanaimo
Lot Size
206474 Sq. Ft.
Lot Size (Acres)
4.74 Ac.
MLS® Number
1037845
Listing Brokerage
Sutton Group-West Coast Realty (Nan)
Postal Code
V9R 4J5
Tax Amount
$11,186.00
Tax Year
2025
Amenities
Acreage, Central Location, Corner Lot, Easy Access, Family-Oriented Neighbourhood, Park Setting, Recreation Nearby, Shopping Nearby, Sidewalk, Southern Exposure, Wooded, See Remarks
