619 Pine St, Nanaimo, BC V9R2C7
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619 Pine St, Nanaimo, BC V9R2C7
619 Pine St, Nanaimo, BC V9R2C7
619 Pine St, Nanaimo, BC V9R2C7
619 Pine St, Nanaimo, BC V9R2C7
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Gabriela Anaya

Gabriela Anaya

+1(613) 402-0663
$ 599,000
Est. payment /mo
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619 Pine St Nanaimo, BC V9R2C7

5 Beds

2 Baths

2,093 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2093

Square Footage 2,093 sqft

Price per Sqft $286

Subdivision Old City

MLS® Listing ID 1053326

Style Westcoast

Bedrooms 5

Year Built 1955

Lot Size 9,321 Sqft

Acres 9321.0

Property Sub-Type Freehold

Property Description

Strong rental income today. Substantial land value and redevelopment potential for tomorrow. The generous 9,300 sq. ft. lot and R8 zoning provide substantial future potential, while the character home offers immediate rental appeal. Features include original hardwood floors, coved ceilings, abundant natural light, a bright kitchen with southern Mt. Benson views, spacious living areas, an oversized primary bedroom, and a large 3-bedroom lower suite! Enjoy a private south-facing deck and fenced backyard, plus recent updates including a newer roof, windows, and furnace. Conveniently located near shopping, schools, and transportation. Cash-flow positive rental income covers your mortgage and principal. And an investor's intention to build an apartment building on this R8-zoned 9000+ sq ft lot could qualify for 100% financing through the CMHC Apartment Construction Loan Program. 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. Recent updates include a newer roof, windows, and furnace. Conveniently located close to shopping, schools, and transportation. Measurements are approximate; buyer to verify. (id:24570)

Location

Province BC

Zoning Residential

Rooms

Kitchen 2.0

Extra Room 1 Lower level 16'6 x 12'10 Laundry room

Extra Room 2 Lower level 4'3 x 7'5 Other

Extra Room 3 Lower level 23'3 x 16'10 Living room/Dining room

Extra Room 4 Lower level 14'9 x 6'2 Kitchen

Extra Room 5 Lower level 6'6 x 10'2 Utility room

Extra Room 6 Lower level 7'8 x 6'8 Bathroom

Interior

Heating Forced air, ,

Cooling None

Exterior

Parking Features No

View Y/N Yes

View City view, Mountain view

Attached Garage No

Total Parking Spaces 2

Garage No

Private Pool No

Building

Architectural Style Westcoast

Others

Ownership Freehold

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Gabriela Anaya

Gabriela Anaya

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+1(613) 402-0663

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619 Pine St