223 Victoria Rd
Nanaimo, BC V9R4P7
$375,000
Property Details
Property & Lot
- Lot size
- 4,760 square feet
- Zoning
- Residential
DT12
Ownership & Fees
- Property type
- Land / Lot
- Ownership
- Freehold
- Annual property tax
- $0
Interior
- Fireplace
- None
Parking
- Total spaces
- 1
Listing Information
- MLS®
- 1023350
- Listed
- January 15, 2026
- Time on market
- On the market for 229 days
- Data last synced
- August 28, 2026
Listing provided by: Real Broker · Data source: CREA DDF.
Description
223 Victoria Road presents a rare and highly strategic multi-family development opportunity in Nanaimo. Unlike the large-scale multi-family projects that dominate the market and require substantial working capital, this approved four-unit townhouse-style complex offers a more accessible entry point for builders while maintaining strong investment potential. The property is ideally situated within walking distance of downtown and central shopping, ensuring long-term desirability. This project features a unique mix of residential and live-work spaces. The standout unit is a rare live-work design with a 521 sq. ft. ground-floor office space that connects via an internal staircase to a two-bedroom, 774 sq. ft. residential unit above. The second level also has a separate exterior entrance, maximizing functionality and rental appeal. The remaining three units are well-designed two-bedroom residences of approximately 820 sq. ft., each with a private outdoor deck and townhouse-style exterior access. A key highlight of this development is the shared rooftop deck, offering exceptional ocean views of Nanaimo Harbour. With a total project size of 4,728 sq. ft., this development strikes the perfect balance between financial feasibility and high-quality urban living. The approved plans allow for an efficient and profitable build, making it an ideal opportunity for both small and mid-sized developers. 223 Victoria Road is a rare chance to bring a modern, adaptable multi-family project to market in a prime location. With approvals in place and a compelling design, this is a project that stands out in Nanaimo’s evolving real estate landscape. Serious inquiries are welcome. (id:63159)
Location Insights
Weather
13°C
Partly Cloudy
Humidity 89%
Wind WSW 6 km/h
Tonight
12°
Tuesday
21°
Tuesday night
14°
Wednesday
16°
Wednesday night
11°
Thursday
17°
Source: Environment and Climate Change Canada.
Population
99,863
(2021 Census)
+10.3% since 2016
Density: 1,104.1/km²
Dwellings: 45,138
Median household income: $75,500
After-tax: $68,500
Immigrant population: 16.1%
Top countries of origin (% of total population)
- United Kingdom3.5% · 3,495
- China1.3% · 1,285
- United States of America1.2% · 1,155
- India1.1% · 1,075
- Philippines1% · 1,040
- Germany0.6% · 635
- Korea, South0.5% · 470
- Viet Nam0.5% · 455
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
52
8/9 categories nearby
Transit
—
Not enough data yet
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| Bayview Elementary | Elementary | 545 m |
| Georgia Avenue Elementary | Elementary | 1.3 km |
| Pauline Haarer Elementary | Elementary | 1.3 km |
| John Barsby Secondary | Secondary | 1.6 km |
| Learning Alternatives | Secondary | 1.6 km |
| Park Avenue Elementary | Elementary | 1.7 km |
| Fairview Elementary | Elementary | 1.8 km |
| Nanaimo District Secondary | Secondary | 2.0 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
No TransLink stops within an ~10-minute walk.
Nearby Places
Restaurants (5+)
- MGM · 240 Nicol Street61 m
- Indian Grill's493 m
- Bar Luna · Victoria Road 7529 m
- Bamboo Garden · 67 Victoria Crescent628 m
- Thai Cook · 22 Victoria Crescent684 m
Cafes (2)
- The Vault Cafe · 499 Wallace Street697 m
- Starbucks · 650 Terminal Avenue786 m
Grocery (1)
- Superette484 m
Parks (5+)
- Deverill Square Gyro 2 Park · 200 Irwin Street240 m
- View Street Park · 38 View Street395 m
- Nob Hill Park · 400 Milford Crescent438 m
- Rosamond Park · 1 Rosamond Street535 m
- Pioneer Square Park576 m
Shopping (1)
- London Drugs · 650 Terminal Avenue784 m
Gyms (1)
- Dolly's Gym · 111 Nicol Street261 m
Pharmacies (1)
- Central Drugs626 m
Banks & ATMs (2)
- Superette Foods - Bitcoin Well ATM · 687 Albert Street492 m
- TD668 m
Nearby places data: © OpenStreetMap contributors.
School district: Nanaimo-Ladysmith (SD68)
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Mortgage & Ownership Cost Calculator
Minimum required: 5.0% ($18,750) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.