Prime development opportunity in the heart of Departure Bay! Situated on a 7,500 SF corner lot and zoned R5, this property offers outstanding potential for developers, investors, or buyers seeking future upside with zoning that allows for up to 4 units. The property features an older 1 bedroom, 1 bathroom home currently owner occupied and ideal as a holding property while redevelopment plans are underway. Excellent revenue potential during the planning process. Located in one of Nanaimo’s most desirable neighbourhoods, directly across from an elementary school and just 2 blocks to the high school, with shopping, parks, beaches, transit, and amenities all nearby. Rare opportunity to secure a well-located redevelopment site in an established, high-demand area.
Address
3796 Departure Bay Rd
List Price
$629,000
Property Type
Residential
Type of Dwelling
Single Family Residence
Style of Home
Contemporary
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Departure Bay
Bedrooms
1
Bathrooms
1
Floor Area
574 Sq. Ft.
Lot Size
7500 Sq. Ft.
Lot Size (Acres)
0.17 Ac.
Year Built
1956
MLS® Number
1036781
Listing Brokerage
Royal LePage Nanaimo Realty (NanIsHwyN)
Basement Area
Not Full Height, Walk-Out Access
Postal Code
V9T 1C4
Tax Amount
$3,252.00
Tax Year
2025
Features
Electric, Heat Pump
Amenities
Central Location, Corner Lot, Curb & Gutter, Easy Access, Fenced, Recreation Nearby, See Remarks, Serviced, Shopping Nearby, Sidewalk