Luxury Victoria Waterfront Listings
438 Wakesiah Ave
Na University District
Nanaimo
V9R 3K8
$5,560,000
Commercial Sale
- Status:
- Active
- Prop. Type:
- Commercial Sale
- MLS® Num:
- 1030328
- Photos (16)
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Prime Student Housing Investment with Licensed Inn Component – Ideally located directly across from VIU, this property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. It features 25 units (13 single-bed & 12 double-bed), totaling 37 beds, with consistently strong occupancy driven by reliable student demand. Its prime location supports steady, recession-resistant income & long-term rental stability. A key highlight is the approved inn license, allowing up to 12 rooms for short-term rental use. This flexible hybrid model provides excellent upside—maintain stable income from student rentals while increasing returns through short-term accommodation, especially during summer months. Built with durability, 15 rear parking stalls, lane-access parking. Close to all amenities, further enhancing tenant appeal. Stable income with strong upside potential. All info, data & measurements approximate; verify if important.
- Property Type:
- Commercial Sale
- Type:
- Multi Family
- Commercial Type:
- Building
- Lease Type:
- Sale Of Shares
- Close Price Lease Total:
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- Existing Lease Expiry:
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- Listing General Location:
- Na University District, Nanaimo
- Bathrooms:
- - (Full:-/Half:-)
- Lot Size:
- 12,917 sq. ft.1,200 m2
- Taxes:
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- Building Features:
- Basement, Bike Storage, Laundry Room, Parking, Security System, Shopping Nearby, Storage Room, Transit Nearby, Visual Exposure
- Construction:
- Frame Wood, Insulation All, Insulation: Ceiling, Insulation: Walls
- Electricity:
- Yes
- Ceiling Heights:
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- Floor finish:
- Carpet, Mixed, Tile
- Total Building Area:
- 13,264 sq. ft.1,232 m2
- Commercial Area:
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- Water supply:
- Municipal
- Sewer:
- Sewer Connected
- Cooling:
- None
- Heating:
- Baseboard, Hot Water, Natural Gas
- Fireplace:
- No
- Pending Date:
- Signup
- Electric, Fixtures, Parking
- Balcony, Balcony/Deck, Low Maintenance Yard, Security System
- City, Mountain(s)
- Main Level
- 0
- Yes
- No
- Unrestricted
- Financing Notes:
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- Assessed:
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- Assessment year:
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- Approximate Inventory Value:
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- Fixed Equipment Approx. Value:
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- Goodwill Approx. Value:
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- Gross Income:
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- Net Operating Income:
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- Association Fee:
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- Association Fee Frequency:
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- Utilities:
- Cable Available, Cable Connected, Electricity Connected, Garbage, Natural Gas Connected, Phone Connected, Recycling, Underground Utilities
- Lot Site Features:
- Central Location, Easy Access, Landscaped, Level, Recreation Nearby, Shopping Nearby, Sloped, Southern Exposure
- Parking Features:
- On Site
- Total Parking Spaces:
- 17
- Business Name:
- Cold Moon Student House
- Total Units:
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- Date Listed:
- Mar 30, 2026
- Original Price:
- 5560000.0
Larger map options:
Listed by REMAX Professionals (NA)
Data was last updated March 30, 2026 at 12:05 PM (UTC)
Area Statistics
- Listings on market:
- 105
- Avg list price:
- $1,195,000
- Min list price:
- $23
- Max list price:
- $25,000,000
- Avg days on market:
- 101
- Min days on market:
- 5
- Max days on market:
- 705
These statistics are generated based on the current listing's property type
and located in
Nanaimo. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
- BC HOME GROUP
- Exp Realty Inc
- 1-778-401-9545
- Contact by Email
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board.
The information is from sources deemed reliable, but should not be relied upon without independent verification.
