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$5,390,000
British Columbia,Nanaimo
For Sale Active
438 Wakesiah Ave, Nanaimo, British Columbia V9R3K8
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Basic Details
Description

Prime Student Housing Investment with Licensed Inn Component – Nanaimo, BC Ideally located directly across from Vancouver Island University (VIU), this purpose-built student housing property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. The building 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 and 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 and low maintenance in mind, features include granite countertops, quartz-tiled entry, modern finishes, Low-E windows, multi-zone hot water heating, and a pressurized water system. Additional amenities include on-site laundry, bike storage, 15 rear parking stalls, lane-access parking, and full security camera coverage. Conveniently located close to shopping, recreation, and transit, further enhancing tenant appeal. Stable income with strong upside potential. Measurements approximate; verify if important. (id:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: 1030328
  • Price: $5,390,000
  • View: City view, Mountain view
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 131042
Features & Appliances
Features
  • Heating System: Natural gas, Baseboard heaters, Hot Water
  • Cooling System: None
Address Map
  • Location: CA, British Columbia, Nanaimo, V9R3K8
  • Street: Wakesiah
  • Street Number: 438
  • Street Suffix: Avenue
  • Longitude: W124° 2' 21.4''
  • Latitude: N49° 9' 28.4''
  • Zoning: Unknown
Additional Information
  • Lot Features:
  • Lot Size Dimensions: 12917
  • Number Of Units Total: 25
Financial
  • Tax Annual Amount: 37843
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Listing updated: 2026-06-18 03:17:50
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Listing Information
  • List Agent Key: 2016124
  • List Office Key: 131042
  • Modification Timestamp: 2026-04-30T04:50:44Z
  • Originating System Name: Vancouver Island Real Estate Board
  • Status Change Timestamp: 2026-04-30T04:42:22Z
Powered by REALTOR.ca
Listing updated: 2026-06-18 03:17:50
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