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585 Hillcrest Ave
Na University District Nanaimo V9R 3M6

$425,000
Commercial Sale

Main Photo: 585 Hillcrest Ave in Nanaimo: Na University District Unimproved Land for sale : MLS®# 985171
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
985171
Attention Builders and Investors: Opportunity in the Heart of Nanaimo’s University District! 585 Hillcrest St. This is your chance to purchase an R5 Lot to build up to a 4 Plex. This 4550 sq. ft parcel of vacant land is ready for your ideas and development. This lot boasts excellent laneway access and is located just a short walk from VIU, a prime area for rental demand. And there’s more—there is also 2 more separate lots and PIDS available under a separate MLS listing. This unique offering is a true income generator as you navigate the permitting process. Lot 1: A 6,457 sq. ft. property featuring a rentable home that is currently vacant—perfect for immediate revenue potential. Lot 2: A 4,525 sq. ft. parcel of vacant land, ready for development. Presenting the rare opportunity to create a 3 lot, 12-unit Project. Whether you’re looking to build, develop, or invest, this is a strategic acquisition you don’t want to miss!
Property Type:
Commercial Sale
Type:
Unimproved Land
Commercial Type:
Land
Lease Type:
Sale Price
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Na University District, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
4,525 sq. ft.
Taxes:
Ceiling Heights:
Commercial Area:
Fireplace:
No
Pending Date:
Main Level
0
Yes
No
Unrestricted
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Nanaimo
Legal Description:
Zoning:
R5
Units in Building:
Units in Community:
Parking Features:
On Site
Total Units:
Date Listed:
Jan 21, 2025
Original Price:
425000.0
  • Photo 1: 585 Hillcrest Ave in Nanaimo: Na University District Unimproved Land for sale : MLS®# 985171
    Photo 1 of 1
Listed by RE/MAX of Nanaimo
Data was last updated March 31, 2025 at 10:05 AM (UTC)
Area Statistics
Listings on market:
87
Avg list price:
$925,000
Min list price:
$23
Max list price:
$11,500,000
Avg days on market:
119
Min days on market:
4
Max days on market:
557
These statistics are generated based on the current listing's property type and located in Nanaimo. Average values are derived using median calculations.

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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.