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931 Crace St
Na Old City Nanaimo V9R 2T4

$2,700,000
Commercial Sale built: 1928

Main Photo: 931 Crace St in Nanaimo: Na Old City Multi Family for sale : MLS®# 1012926
Photo 1: 931 Crace St in Nanaimo: Na Old City Multi Family for sale : MLS®# 1012926
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Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
1012926
Year Built:
1928
Well-maintained 10-unit rental apartment building at the edge of Nanaimo’s harbour and downtown core. Located at 931 Crace Street, the property offers immediate access to Port Place Mall and the new Hullo foot passenger ferry with 70-minute service to downtown Vancouver. The unit mix includes 7 one-bedroom units, 2 two-bedroom, and 1 three-bedroom. This unique character building is being offered at a strong cap rate although there is still significant upside potential upon tenant turnover. Situated in a growing, gentrifying neighbourhood, this is an excellent opportunity to acquire a solid income property with long-term growth potential. More information available.
Property Type:
Commercial Sale
Type:
Multi Family
Commercial Type:
Building, Land
Year built:
1928 (Age: 97)
Lease Type:
Sale of Assets
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Na Old City, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
12,936 sq. ft.
Taxes:
Building Features:
Basement, Bike Storage, Laundry Room, Parking, Shopping Nearby, Transit Nearby
Construction:
Stucco
Foundation:
Concrete Perimeter
Ceiling Heights:
Total Building Area:
9,637 sq. ft.
Commercial Area:
Water supply:
Municipal
Sewer:
Sewer Connected
Heating:
Baseboard, Electric
Fireplace:
No
Pending Date:
City, Mountain(s), Ocean
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:
Units in Building:
Units in Community:
Occupancy:
Tenant
Lot Site Features:
Central Location, Easy Access, Marina Nearby, Recreation Nearby, Serviced, Shopping Nearby, Sidewalk
Parking Features:
On Site
Road Surface Type:
Paved
Total Units:
Date Listed:
Sep 03, 2025
Original Price:
2700000.0
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    Ocean View Unit
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    Ocean View Unit
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    Typical Kitchen
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    Renovated Kitchen
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    Walk out unit
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Listed by Royal LePage Nanaimo Realty (NanIsHwyN)
Data was last updated September 29, 2025 at 06:05 PM (UTC)
Area Statistics
Listings on market:
29
Avg list price:
$750,000
Min list price:
$55,000
Max list price:
$3,750,000
Avg days on market:
144
Min days on market:
19
Max days on market:
523
These statistics are generated based on the current listing's property type and located in Na Old City. Average values are derived using median calculations. This data is not produced by the MLS® system.

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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.