531 Kennedy St
Nanaimo, BC V9R2J6
$2,040,000
Property Details
Property & Lot
- Sub-type
- Multi-Family
- Lot size
- 9,400 square feet
- Zoning
- Unknown
R15
Ownership & Fees
- Property type
- Other
- Ownership
- Freehold
- Annual property tax
- $7,873.47
Interior
- Fireplace
- None
Parking
- Total spaces
- 8
Listing Information
- MLS®
- 1041190
- Listed
- June 23, 2026
- Time on market
- On the market for 70 days
- Data last synced
- August 28, 2026
Listing provided by: NAI Commercial (Victoria) Inc. · Data source: CREA DDF.
Description
Turnkey multi-family cash-flow investment in Nanaimo's Old City Neighbourhood! Built in 2021, this purpose-built asset features 8 efficient studio units engineered for modern, low-maintenance operations. Per the official suite mix, the layout consists of four 436 SF studios and four 329 SF studios. All 8 suites boast premium in-suite laundry, built-in dishwashers, high-speed internet setups, and a rare 1:1 on-site parking ratio (8 dedicated stalls). Generates $138,180 gross annual rental income with a stable, projected NOI of $103,730 (5.08% Cap Rate). BONUS: Active 10-year Downtown Revitalization Tax Exemption has 5 years fully remaining, drastically minimizing net municipal operating expenses. Highly walkable location steps from downtown amenities, transit, shopping, and waterfront ferry terminals. Contact listing agents for full OM. NDA required for data room release. (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
63
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 | 657 m |
| Georgia Avenue Elementary | Elementary | 1.1 km |
| Pauline Haarer Elementary | Elementary | 1.1 km |
| Learning Alternatives | Secondary | 1.5 km |
| John Barsby Secondary | Secondary | 1.5 km |
| Fairview Elementary | Elementary | 1.5 km |
| Nanaimo District Secondary | Secondary | 1.6 km |
| Secondaire de Nanaimo | Secondary | 1.6 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+)
- Indian Grill's144 m
- MGM · 240 Nicol Street433 m
- Flavours of India · 486 Franklyn Street557 m
- Bar Luna · Victoria Road 7568 m
- Bamboo Garden · 67 Victoria Crescent616 m
Cafes (5+)
- The Vault Cafe · 499 Wallace Street611 m
- White Rabbit Coffee Co · 321 Selby Street620 m
- Real Food Café · 321 Wesley Street713 m
- Kitties and Cream · 437 Fitzwilliam Street746 m
- Bocca Café · 427 Fitzwilliam Street747 m
Grocery (3)
- Superette157 m
- ManLee Oriental · 385 Terminal Avenue717 m
- Truong Thanh Specialty Asian Grocery723 m
Parks (5+)
- Rosamond Park · 1 Rosamond Street306 m
- Nob Hill Park · 400 Milford Crescent379 m
- Pawson Gyro Park · 410 Machleary Street490 m
- View Street Park · 38 View Street500 m
- Durham Park · 423 Pine Street540 m
Shopping (1)
- Unnamed · 510 Fifth Street776 m
Gyms (2)
- Dolly's Gym · 111 Nicol Street459 m
- Iyengar Yoga Nanaimo · 335 Wesley Street684 m
Pharmacies (2)
- Central Drugs494 m
- Shoppers Drug Mart781 m
Banks & ATMs (4)
- Superette Foods - Bitcoin Well ATM · 687 Albert Street164 m
- TD697 m
- Scotiabank · 65 Commercial Street765 m
- Scotiabank · 65 Commercial Street771 m
Nearby places data: © OpenStreetMap contributors.
School district: Nanaimo-Ladysmith (SD68)
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Mortgage & Ownership Cost Calculator
Minimum required: 20.0% ($408,000) — 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.