1415 Loat St

Offered at: $1,450,000

MLS®: 984877

This is a rare chance to secure a multifamily development opportunity in one of Nanaimo’s most sought-after neighborhoods. Situated on a .77-acre lot overlooking Departure Bay and just steps from the beach, this property offers an exceptional opportunity for a low-risk, high-return legacy project. The rezoning process has been completed, with third reading and rezoning approval finalized. The project is now civil-ready, with plans for 13 modern, architecturally designed townhomes by renowned local architect Ian Nimath. This development is poised to be a standout addition to the area. Adding immediate value, the property currently includes a well-maintained 2,500 sq. ft. home with 7 bedrooms, configured as three separate rental units, providing income potential while you plan your next steps. The original developer has stepped away, presenting a unique opportunity for you to take the reins and bring this vision to life!

Quick Stats

Key Home Data

4
BATH(S)
7
BED(S)
Dining Room,French Doors,Workshop
SQFT
YES
SHOWING AVAILABLE
Property Type:
 Residential
Home Ownership:
Freehold

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Office: 250-334-3124