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.
Address
438 Wakesiah Ave
List Price
$5,560,000
Property Type
Commercial Sale
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na University District
Lot Size
12917 Sq. Ft.
Lot Size (Acres)
0.3 Ac.
MLS® Number
1030328
Listing Brokerage
REMAX Professionals (NA)
Postal Code
V9R 3K8
Tax Amount
$37,843.00
Tax Year
2025
Features
Baseboard, Carpet, Hot Water, Mixed, Natural Gas, Security System, Tile
Amenities
Balcony, Balcony/Deck, Central Location, Easy Access, Landscaped, Level, Low Maintenance Yard, Recreation Nearby, Security System, Shopping Nearby, Sloped, Southern Exposure