1015 Park Ave

About this home

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:65179)

Property details

From the listing's public record.

Every recorded listing event for this property — sales, relists, expired or withdrawn listings.

1. May 22, 2026

   Listed $2,380,000

   Active38 days on marketMLS 1037845

2. May 22, 2026

   Listed $2,380,000

   Active38 days on marketMLS 1037842

3. Jan 6, 2026

   Listed $2,380,000

   Ddf_delisted136 days on marketMLS 1022549

4. Jan 6, 2026

   Listed $2,380,000

   Ddf_delisted136 days on marketMLS 1022548

5. Aug 1, 2025

   Listed $2,580,000

   Expired121 days on marketMLS 1009044

6. Apr 4, 2025

   Listed $3,000,000

   Cancelled118 days on marketMLS 994224

7. Apr 14, 2022

   $1,720,000

   Sold17 days on marketMLS 894881

8. Feb 28, 2019

   $788,000

   Sold134 days on marketMLS 794317

Current market in Nanaimo

Buyer's market — 38.8 months of supply at the current sales pace.

Assessment

From publicly available property records.

• Lot A-7131 Peterson Rd

  $600,000

  — · — · — · 2 days on market

  Sold Jun 29, 2026 · 104.3% of list

• 7901 Ridge Rd

  $650,000

  — · — · — · 50 days on market

  Sold May 29, 2026 · 96.3% of list

• 7120 Ocean Blue Pl

  $768,600

  — · — · — · 73 days on market

  Sold May 28, 2026 · 103.9% of list

• 4854 Dixon Lane

  $400,000

  — · — · — · 22 days on market

  Sold May 22, 2026 · 92% of list

• Lot 1 Fawcett Rd

  $360,000

  — · — · — · 32 days on market

  Sold May 11, 2026 · 90% of list

• 2316 Sparrow Lane

  $415,000

  — · — · — · 302 days on market

  Sold Apr 30, 2026 · 99.8% of list

• 510 Vancouver Ave

  $360,000

  — · — · — · 75 days on market

  Sold Apr 29, 2026 · 83.9% of list

• 5356 Dewar Rd

  $599,000

  — · — · — · 17 days on market

  Sold Apr 27, 2026 · 100% of list

• 3104 Elsie Lake Cir

  $260,000

  — · — · — · 57 days on market

  Sold Apr 16, 2026 · 93.2% of list

• 2300 Sparrow Lane

  $395,000

  — · — · — · 456 days on market

  Sold Apr 8, 2026 · 98.8% of list

• 4848 Dixon Lane

  $420,000

  — · — · — · 238 days on market

  Sold Apr 2, 2026 · 96.6% of list

• 2131 Henderson Lake Way

  $239,000

  — · — · — · 86 days on market

  Sold Mar 27, 2026 · 100% of list

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