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571 Albert St in Nanaimo: Na Central Nanaimo Multi Family for sale : MLS®# 1042858

571 Albert St Nanaimo V9R 2W1 : Na Central Nanaimo

Main Photo: 571 Albert St in Nanaimo: Na Central Nanaimo Multi Family for sale : MLS®# 1042858banner
$2,490,000
Prop. Type:
Commercial Sale
MLS® Num:
1042858
Status:
Active
Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, sea plane service, shopping centres, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential.
Property Type:
Commercial Sale
Type:
Multi Family
Commercial Type:
Building, Land
Lease Type:
Sale of Assets
Listing General Location:
Na Central Nanaimo, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
Switch units of measure6,623 sq. ft.
Taxes:
$15,228 / 2025
Construction:
Vinyl Siding
Foundation:
Concrete Perimeter, Slab
Electricity:
Yes
Floor finish:
Carpet
Total Building Area:
Switch units of measure6,000 sq. ft.
Commercial Area:
Downtown
Water supply:
Municipal
Sewer:
Sewer Connected
Heating:
Baseboard
Fireplace:
No
City, Mountain(s)
Main Level
0
Yes
No
Unrestricted
Assessed:
2204000.0
Assessment year:
2026
Jurisdiction name:
City of Nanaimo
Legal Description:
LOT 1, PLAN VIP77859, SECTION 1, NANAIMO LAND DISTRICT
Occupancy:
Tenant
Utilities:
Cable Connected, Electricity Connected, Phone Available
Lot Site Features:
Easy Access, Family-Oriented Neighbourhood, Recreation Nearby, Shopping Nearby
Parking Features:
On Site
Total Units:
10
Date Listed:
Jul 16, 2026
Original Price:
2490000.0
Listed by Sutton Group-West Coast Realty (Nan)
Data was last updated July 17, 2026 at 08:05 PM (UTC)
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.