This rare 3.4-acre property in North Nanaimo offers an outstanding multifamily development opportunity across two titled lots. 5211 Hammond Bay Rd is a 1.7-acre vacant parcel ready for development, while 5621 Hammond Bay Rd includes a vacant 5 bed 3 bath home with suite potential on the property to generate rental income and offset costs during planning. Additionally, mature timber on the property offers potential revenue. The R10 zoning of the property supports up to 16 units per hectare, ideal for townhomes or duplexes. The property’s sloping terrain presents the opportunity for ocean-view units. Located in a family-friendly area near schools, parks, and public transit, it’s a walkable and desirable area for redevelopment. All measurements approximate; buyers to verify if important.
Data was last updated December 4, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
157
Avg list price:
$799,000
Min list price:
$250,000
Max list price:
$3,200,000
Avg days on market:
76
Min days on market:
1
Max days on market:
989
Avg price per sq.ft.:
$417.52
These statistics are generated based on the current listing's property type
and located in
Na North Nanaimo. Average values are
derived using median calculations.