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Listing by John MacDonald RE/MAX Camosun
$1,400,000
Est. payment /mo
0.75 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1024041
HOA Y/N No
Annual Tax Amount $20,755
Tax Year 2025
Lot Size 0.750 Acres
Acres 0.75
Property Sub-Type Unimproved Land
Property Description
A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, featuring flexible COR2 zoning, which supports street-oriented, medium-density residential and mixed-use development along major corridors.
The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site's suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale.
With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo's growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential.
The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site's suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale.
With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo's growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential.
Location
Province BC
County Nanaimo, City Of
Community Na Diver Lake
Area Nanaimo
Zoning COR2
Interior
Fireplace No
Exterior
View Y/N false
Garage No
Others
Ownership Freehold
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