531 Kennedy St

About this home

Turnkey multi-family cash-flow investment in Nanaimo's Old City Neighbourhood! Built in 2021, this purpose-built asset features 8 efficient studio units engineered for modern, low-maintenance operations. Per the official suite mix, the layout consists of four 436 SF studios and four 329 SF studios. All 8 suites boast premium in-suite laundry, built-in dishwashers, high-speed internet setups, and a rare 1:1 on-site parking ratio (8 dedicated stalls). Generates $138,180 gross annual rental income with a stable, projected NOI of $103,730 (5.08% Cap Rate). BONUS: Active 10-year Downtown Revitalization Tax Exemption has 5 years fully remaining, drastically minimizing net municipal operating expenses. Highly walkable location steps from downtown amenities, transit, shopping, and waterfront ferry terminals. Contact listing agents for full OM. NDA required for data room release. (id:65179)

Property details

From the listing's public record.

Every recorded listing event for this property — sales, relists, expired or withdrawn listings.

1. Jun 23, 2026

   Listed $2,040,000

   Active6 days on marketMLS 1041190

2. Jun 14, 2016

   $356,250

   Sold1 days on marketMLS 730484

3. Jun 16, 2015

   Listed $299,000

   Expired45 days on marketMLS 705170

4. Jul 8, 2010

   Listed $330,000

   Cancelled184 days on marketMLS 544965

5. Nov 8, 2002

   $106,000

   Sold68 days on marketMLS 293477

6. Apr 30, 1993

   $118,000

   Sold3 days on marketMLS 52888

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Assessment

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