223 Victoria Rd

About this home

223 Victoria Road presents a rare and highly strategic multi-family development opportunity in Nanaimo. Unlike the large-scale multi-family projects that dominate the market and require substantial working capital, this approved four-unit townhouse-style complex offers a more accessible entry point for builders while maintaining strong investment potential. The property is ideally situated within walking distance of downtown and central shopping, ensuring long-term desirability. This project features a unique mix of residential and live-work spaces. The standout unit is a rare live-work design with a 521 sq. ft. ground-floor office space that connects via an internal staircase to a two-bedroom, 774 sq. ft. residential unit above. The second level also has a separate exterior entrance, maximizing functionality and rental appeal. The remaining three units are well-designed two-bedroom residences of approximately 820 sq. ft., each with a private outdoor deck and townhouse-style exterior access. A key highlight of this development is the shared rooftop deck, offering exceptional ocean views of Nanaimo Harbour. With a total project size of 4,728 sq. ft., this development strikes the perfect balance between financial feasibility and high-quality urban living. The approved plans allow for an efficient and profitable build, making it an ideal opportunity for both small and mid-sized developers. 223 Victoria Road is a rare chance to bring a modern, adaptable multi-family project to market in a prime location. With approvals in place and a compelling design, this is a project that stands out in Nanaimo’s evolving real estate landscape. Serious inquiries are welcome. (id:65179)

Property details

From the listing's public record.

Every recorded listing event for this property — sales, relists, expired or withdrawn listings.

1. Jan 15, 2026

   Listed $375,000

   Active165 days on marketMLS 1023348

2. Jan 15, 2026

   Listed $375,000

   Active165 days on marketMLS 1023350

3. Mar 4, 2025

   Listed $374,900

   Expired271 days on marketMLS 988660

4. Jul 28, 2021

   $265,000

   Sold1 days on marketMLS 879044

5. Jul 28, 2017

   $155,000

   Sold150 days on marketMLS 751696

6. Nov 23, 2015

   $110,000

   Sold77 days on marketMLS 709531

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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