A compelling North Nanaimo investment opportunity with both holding income and future redevelopment potential. This nearly 1-acre rectangular, gently sloping parcel offers efficient topography & southern exposure; key attributes for practical site planning, natural light, & strong end-product marketability. Located in an established neighbourhood with municipal water, the property offers a land position in a proven area. Zoned R5 and supported by the City of Nanaimo OCP, the site has potential for multi-unit residential development, including building strata or clustered housing (buyer to verify). Two existing dwellings provide revenue while development plans are advanced: Main residence: 1,311 sq ft, 3 bed, 2 bath (de-registered manufactured home) Secondary accommodation: 626 sq ft, 1 bed, 1 bath suite with full kitchen A usable site, income in place & future density potential combine to create a strategic land-hold and development opportunity in North Nanaimo.
Data was last updated September 23, 2026 at 10:05 PM (UTC)
Area Statistics
Listings on market:
47
Avg list price:
$674,900
Min list price:
$198,000
Max list price:
$4,135,000
Avg days on market:
30
Min days on market:
1
Max days on market:
138
Avg price per sq.ft.:
$382.95
These statistics are generated based on the current listing's property type
and located in
Na Pleasant Valley. Average values are
derived using median calculations. This data is not produced by
the MLS® system.