Renovated apartment building for sale in downtown Nanaimo, BC.
Featuring 1 bachelor and 31 one-bedroom units, 250 Victoria Rd has recently undergone substantial renovations and improvements.
All windows and doors have been replaced. Convenient in-suite laundry is installed in every unit. Lobby and hallways have been updated. Modern security, camera and enter-phone system was installed. Increased security creates peace-of-mind for tenants and remote access for the landlord. View your building in real time from anywhere in the world…all on your mobile phone!
Five units have been completed renovated with new kitchen, bathroom, flooring, paint, fixtures, appliances, cabinets have all been replaced. Renovated units are renting for $1,250 per month.
Electricity is individually metered for each suite. Hot water is provided by separate electric hot water tanks in each suite. Heat is electric baseboard. As a result, landlord utility expenses and maintenance costs are low.
The roof is a brand new torch-on membrane installed in 2014. The central elevator has been updated to meet current elevator safety regulations. Construction is poured concrete slab foundation, wood frame and a well-maintained stucco exterior.
All upper front-facing suites enjoy stunning panoramic water views over Departure Bay.
As a result of building upgrades, solid construction and convenient location, 250 Victoria Rd will provide a solid income for many years to come. Keep as a stable cash-flow building or complete renovations to remaining units for even more rental upside.
Address: 250 Victoria Rd, Nanaimo, BC, V9R 4P8
PID(s): 000-351-938, 000-352-721, 000-352-730
Legal Description: Lot A1 Block U Plan VIP584 Section 1 Land District 32 HARBOUR HILL APTS (32 SUITES), Lot B1 Block U Plan VIP584 Section 1 Land District 32, Lot B2 Block U Plan VIP584 Section 1 Land District 32