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522 Hecate St Nanaimo, British Columbia V9R 4K2

None Hot Water

$749,900

Here is a great opportunity to own a rare historical building in downtown Nanaimo. Built in 1891, this original 6 -plex offers incredible rental income. The main floor houses 3 units, 2 bachelor suites & the 3rd is a spacious 1 bedroom. Upstairs you will find two more spacious 1 bedrooms suites both with peek a boo ocean & downtown views. Outside & around the back of the complex is another bright bachelor unit with its own additional mudroom. Little needs to be done here with the building having a new roof, windows, siding & paint. There is an efficient natural gas radiant heat system to keep cost down. In addition to the complex, there is a large detached shop that is roughed in for communal laundry, which could easily be turned into multiple storage lockers for individuals renting the units. The rental potential in this building is $5300 with all units occupied that would give you a 7% CAP rate!! If you're looking for an amazing investment, look no further. (id:33633)

Property Details

MLS® Number 859148
Property Type Multi-family
Neigbourhood Old City
Features Level Lot, Other
Plan Vip584

Building

Ceiling Height 120 In
Constructed Date 1891
Cooling Type None
Fireplace Present No
Heating Fuel Other
Heating Type Hot Water
Type Multi-family

Land

Access Type Road Access
Acreage No
Size Irregular 6334
Size Total 6334 Sqft
Size Total Text 6334 Sqft
Zoning Type Unknown

https://www.realtor.ca/real-estate/22533808/522-hecate-st-nanaimo-old-city

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