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571 Albert St, Nanaimo

MLS® #1042858
About this Property

Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, float-plane service, shopping centres, malls, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential. (id:62865)

Property Information

Status

Active

Property Type

Multi-Family

Ownership

Freehold

Annual Tax

$15,228

Zoning

Unknown

Parcel Number

026-089-921

Data Source

Vancouver Island Real Estate Board

Exterior & Lot

Lot Size

6623.0 sqft

View

City view, Mountain view

Lot Features

Other
Building & Utilities

Heating

Baseboard heaters

$2,490,000

For immediate assistance, contact:

Joe Manhas

Personal Real Estate Corporation

604-720-0438
Listing Courtesy of

Office

Sutton Group-West Coast Realty (Nan)

Mortgage Calculator
$498,000

Loan Amount:

$1,992,000

Estimated Monthly Payment:

$9,707

This is an estimate for informational purposes only. Consult with a financial advisor.