438 Wakesiah Ave, Nanaimo, BC V9R 3K8
438 Wakesiah Ave, Nanaimo, BC V9R 3K8
438 Wakesiah Ave, Nanaimo, BC V9R 3K8
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Jason Anson

Jason Anson

+1(250) 252-7653
Listing by Julie Liang REMAX Professionals (NA)
$5,390,000
Est. payment /mo
13,264 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,264 sqft

Price per Sqft $406

MLS Listing ID 1030328

HOA Y/N No

Annual Tax Amount $37,843

Tax Year 2025

Lot Size 0.300 Acres

Acres 0.3

Property Sub-Type Multi Family

Property Description

Prime Student Housing Investment with Licensed Inn Component – Ideally located directly across from VIU, this property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo's most desirable rental locations. It 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 & 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, 15 rear parking stalls, lane-access parking. Close to all amenities, further enhancing tenant appeal. Stable income with strong upside potential. All info, data & measurements approximate; verify if important.

Location

Province BC

County Nanaimo, City Of

Community Na University District

Area Nanaimo

Zoning COR1

Interior

Heating Baseboard, Hot Water, Natural Gas

Cooling None

Flooring Carpet, Mixed, Tile

Inclusions Electric, Fixtures, Parking

Equipment Security System

Fireplace No

Exterior

Exterior Feature Balcony, Balcony/Deck, Low Maintenance Yard, Security System

Parking Features On Site

Garage Spaces 17.0

Utilities Available Cable Available, Cable Connected, Electricity Connected, Garbage, Natural Gas Connected, Phone Connected, Recycling, Underground Utilities

View Y/N true

View City, Mountain(s)

Total Parking Spaces 17

Garage No

Building

Lot Description Central Location, Easy Access, Landscaped, Level, Recreation Nearby, Shopping Nearby, Sloped, Southern Exposure

Sewer Sewer Connected

Water Municipal

Others

Ownership Freehold

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Jason Anson
Jason Anson

Agent | License ID: 188385

+1(250) 252-7653 | sold@jasonanson.ca

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438 Wakesiah Ave

This page highlights a For Sale Listing, giving you a closer look at property details while also connecting you to the broader real estate market on Vancouver Island. Every listing is part of a larger story shaped by neighbourhood activity and regional demand. I have lived on Vancouver Island for more than 30 years and know how communities change over time. In my professional work I focus on proving actual market value with market movement data, helping both buyers and sellers see where a property fits in today’s market. Use these guides to explore regional areas and compare this listing with the wider housing story of the island at Living on Vancouver Island.