44
$669,000 Sale
Listed 11 days ago
619 Pine St
· 5
· 2.0
· 2
· 2093
Key Facts
Key facts for 619 Pine St
Property Type
House, Westcoast
Parking
Garage: No, 2 parking
MLS #
1051042
Size
2093 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1955
Maintenance Fee
-
Description
This is the most compelling business case in Nanaimo right now! 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 Lo...an 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. 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:10452)
Room Types
Bathroom
-
Dimensions 6'8 x 7'8
51.11 sqft
Bedroom
-
Dimensions 10'0 x 16'5
164.17 sqft
Bedroom
-
Dimensions 8'7 x 12'3
105.15 sqft
Similar Properties (No results)
Listing courtesy of: Stonehaus Realty Corp.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.