This property offers strong rental income and excellent future potential in the heart of Nanaimo’s Old City. The current dwelling features eight individual studio units with shared bathrooms and laundry facilities, grossing over $6,100 per month in rental revenue. The property is comprised of two separately titled lots, providing an exceptional opportunity for future development—build an additional dwelling on the second lot (details to be confirmed with the City of Nanaimo). Convenient lane access adds further flexibility. Centrally located near downtown amenities, transit, and the waterfront, this property is an ideal addition to any investment portfolio. The home is listed on the heritage register as a non-protected property; it was originally the Dykes Residence. The current use with cooking facilities in each unit has non-conforming status, see more info from City on supplements. All data & measurements are approximate and must be verified if fundamental.
Address
639 Kennedy St
List Price
$800,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Old City
Lot Size
9405 Sq. Ft.
Lot Size (Acres)
0.22 Ac.
MLS® Number
1018397
Listing Brokerage
REMAX Professionals (NA)
Postal Code
V9R 2J9
Tax Amount
$5,942.00
Tax Year
2025
Features
Forced Air, Natural Gas