438 Wakesiah Ave

438 Wakesiah Ave · Nanaimo · Multi-Family · $5,390,000 · MLS 1030328

Nanaimo, British Columbia

C$5,390,000

For sale

438 Wakesiah Ave is located in Nanaimo. Property snapshot: Multi-Family, listed at $5,390,000, MLS 1030328. Compare transit, schools, similar supply, strata/carrying costs and resale liquidity—not just photos and asking price. Current DOM/site exposure: 71. Latest recorded list price 5390000.00; 1 price change(s) on fi

List Price: $5,390,000

MLS: 1030328

Days on Site: 71

Price History: Latest recorded list price 5390000.00; 1 price change(s) on file

Local Decision Guide

How should buyers evaluate 438 Wakesiah Ave?

Start by reading this listing in its Nanaimo context: price, property type, land or strata setup, age, transit, schools, similar supply, carrying costs and resale liquidity should be considered together, not just photos and asking price.

What should be checked before writing an offer?

Recent comparable sales, competing active listings, days on market, price changes and current market pace.
Property condition, inspection risk, insurance, financing, tax, title and any disclosure documents.
For strata homes, review minutes, contingency reserve, special levies, rental rules and pet bylaws.

How do buyers find land with rebuild or multiplex potential, what should they watch, and how can returns be improved?

To find land with this potential, start with zoning, lot size, frontage, lane or driveway access, servicing, trees, slope, basement conditions, BC Assessment, title restrictions and municipal permits. The highest-return plan is usually not simply the maximum unit count; it is the best balance between approval risk, construction cost, rent or resale pricing, floor-plan efficiency, parking and holding period.

What does this page not replace?

It does not replace a realtor, lawyer, inspector, mortgage broker, insurance review, tax advice, strata documents, BC Assessment or municipal records. Use it to form better questions, then verify independently.

Listing FAQ

What is the current list price for 438 Wakesiah Ave?

This page shows a list price of $5,390,000 with MLS 1030328.

What type of home is this Nanaimo listing?

The page shows Multi-Family at 438 Wakesiah Ave. Buyers should still verify strata/land context, interior size, age and inspection findings.

How long has this listing been on the market?

Current records show about 71 days on market/site. Latest recorded list price 5390000.00; 1 price change(s) on file.

What should buyers check first on this listing?

Start with price, location, property type, land or strata context, condition, schools/transit, recent comparable sales and carrying costs; if redevelopment or multiplex potential matters, also review zoning, lot size, servicing and municipal rules.

Can AI analysis replace professional advice?

No. AI analysis is for faster context and market screening; final decisions should still rely on a realtor, lawyer, inspection, financing, tax and municipal due diligence.

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Remarks

Prime Student Housing Investment with Licensed Inn Component – Nanaimo, BC Ideally located directly across from Vancouver Island University (VIU), this purpose-built student housing property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. The building 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 and 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 and low maintenance in mind, features include granite countertops, quartz-tiled entry, modern finishes, Low-E windows, multi-zone hot water heating, and a pressurized water system. Additional amenities include on-site laundry, bike storage, 15 rear parking stalls, lane-access parking, and full security camera coverage. Conveniently located close to shopping, recreation, and transit, further enhancing tenant appeal. Stable income with strong upside potential. Measurements approximate; verify if important. (id:56153)