Strong rental income today. Substantial land value and redevelopment potential for tomorrow. The generous 9,300 sq. ft. lot and R8 zoning provide substantial future potential, while the character home offers immediate rental appeal. Features include original hardwood floors, coved ceilings, abundant natural light, a bright kitchen with southern Mt. Benson views, spacious living areas, an oversized primary bedroom, and a large 3-bedroom lower suite! Enjoy a private south-facing deck and fenced backyard, plus recent updates including a newer roof, windows, and furnace. Conveniently located near shopping, schools, and transportation. Cash-flow positive rental income covers your mortgage and principal. And an investor's intention to build an apartment building on this R8-zoned 9000+ sq ft lot could qualify for 100% financing through the CMHC Apartment Construction Loan Program. This income-producing property offers investors a compelling combination of current rental revenue and long-term redevelopment potential in Nanaimo’s historic Chinatown neighbourhood. The property currently generates $3,600/month ($43,200/year) in rental income, with month-to-month tenants who wish to stay. The generous 9,300 sq. ft. lot and R8 zoning provide significant long-term potential, making this an attractive holding property for investors looking beyond immediate positive cash flow. Recent updates include a newer roof, windows, and furnace. Conveniently located close to shopping, schools, and transportation. Measurements are approximate; buyer to verify. (id:44056)

Property Details

Full Address:
619 Pine St, Nanaimo, British Columbia
Price:
$ 599,000
MLS Number:
1053326
List Date:
November 4th, 2026
Lot Size:
9321 sq.ft.
Year Built:
1955
Taxes:
$ 4,753

Interior Features

Bedrooms:
5
Bathrooms:
2
Total Rooms:
Appliances:
Washer, Refrigerator, Range - Gas, Dryer
Air Conditioning:
None
Heating:
Forced air, Electric, Natural gas

Building Features

Architectural Style:
Westcoast
Zoning:
Residential
Zoning Detail:
R-8
Garage:
Open, Street
Garage Spaces:
2
Ownership Type:
Freehold
Taxes:
$ 4,753

Floors

Finished Area:
2093 sq.ft.

Land

View:
City view, Mountain view
Lot Size:
9321 sq.ft.
Lot Features:
Central location, Cul-de-sac, Level lot, Park setting, Southern exposure, Irregular lot size, Other

Neighbourhood Features

Ratings

Commercial Info

Neighbourhood Details

Location

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Ian Jivraj Real Broker
604-250-7282
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Listing Agent(s)

Lead Agent: Ian Jivraj
Office: Real Broker
Originating Board: Vancouver Island Real Estate Board

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