Vacant Land
1015 Park Ave
South Nanaimo, Nanaimo, BC
MLS® 1037842 · 110 days on market
$2,380,000
4.7 acres
0 bed · 0 bath
Description
Prime 4.74-acre multi-family development opportunity in South Nanaimo, ideally situated within a rapidly growing neighbourhood characterized by newer, high-quality residential construction. Zoned R10 and designated Suburban Neighbourhood in the Official Community Plan, the property offers attractive territorial views and strong potential for a range of ground-oriented residential development concepts. City staff have confirmed a maximum permitted density of up to 23 dwelling units under the existing R10 zoning, based on the surveyed developable area. The OCP supports a variety of low-rise residential forms, including single-unit dwellings, duplexes, tri-plexes, four-plexes, and townhomes, with densities up to 25 units per hectare and building heights up to three storeys, subject to City approvals. A previously approved 14-unit development permit (now expired) demonstrates established development viability, while updated topographical information indicates a larger developable area than previously identified, potentially supporting expanded design possibilities. Technical materials, including topographical surveys, environmental mapping, and related reports, are available to qualified buyers to assist with concept planning and due diligence. Buyers are encouraged to independently verify development potential, servicing requirements, and all necessary approvals with the City of Nanaimo and qualified professionals. (id:63159)
Property Details
Property & Lot
- Lot size
- 4.7 acres
- Zoning
- Multi-Family — R10
- Title
- Freehold
Exterior & Land
- View
- City view, Mountain view
- Lot features
- Acreage, Central location, Park setting, Southern exposure, Wooded area, Corner Site, See remarks, Other
Building & Utilities
- Parcel ID (PID)
- 026-876-795
- Annual property tax
- $11,186
- Brokerage
- Sutton Group-West Coast Realty (Nan)
Location Insights
Population
99,863
(2021 Census)
+10.3% since 2016
- Density
- 1,104.1/km²
- Dwellings
- 45,138
- Median household income
- $75,500
- After-tax
- $68,500
- Immigrant population
- 16.1%
Top countries of origin
- United Kingdom3.5% · 3,495
- China1.3% · 1,285
- United States of America1.2% · 1,155
- India1.1% · 1,075
- Philippines1% · 1,040
- Germany0.6% · 635
- Korea, South0.5% · 470
- Viet Nam0.5% · 455
Source: Statistics Canada, 2021 Census of Population.
Weather
23°C
Mostly Cloudy
Humidity 54%
Wind N 5 km/h
Today
24°
Tonight
14°
Thursday
22°
Thursday night
11°
Friday
16°
Friday night
12°
Source: Environment and Climate Change Canada.
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