585 Hillcrest Ave
Nanaimo, BC V9R3M6
$399,000
Property Details
Property & Lot
- Lot size
- 4,525 square feet
- Zoning
- Residential
R5
Ownership & Fees
- Property type
- Land / Lot
- Ownership
- Freehold
- Annual property tax
- $2,375
Interior
- Fireplace
- None
Parking
- Total spaces
- 2
Listing Information
- MLS®
- 985165
- Listed
- January 22, 2025
- Time on market
- On the market for 587 days
- Data last synced
- August 28, 2026
Listing provided by: Real Broker · Data source: CREA DDF.
Description
Attention Builders and Investors: Opportunity in the Heart of Nanaimo’s University District! 585 Hillcrest St. This is your chance to purchase an R5 Lot to build up to a 4 Plex. This 4550 sq. ft parcel of vacant land is ready for your ideas and development. This lot boasts excellent laneway access and is located just a short walk from VIU, a prime area for rental demand. And there’s more—there is also 2 more separate lots and PIDS available under a separate MLS listing. This unique offering is a true income generator as you navigate the permitting process. Lot 1: A 6,457 sq. ft. property featuring a rentable home that is currently vacant—perfect for immediate revenue potential. Lot 2: A 4,525 sq. ft. parcel of vacant land, ready for development. Presenting the rare opportunity to create a 3 lot, 12-unit Project. Whether you’re looking to build, develop, or invest, this is a strategic acquisition you don’t want to miss! All measurements are approximate (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
30
7/9 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 |
|---|---|---|
| Georgia Avenue Elementary | Elementary | 544 m |
| Secondaire de Nanaimo | Secondary | 809 m |
| Nanaimo District Secondary | Secondary | 809 m |
| John Barsby Secondary | Secondary | 962 m |
| Learning Alternatives | Secondary | 962 m |
| Fairview Elementary | Elementary | 1.4 km |
| Bayview Elementary | Elementary | 1.6 km |
| Park Avenue Elementary | Elementary | 1.7 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+)
- Baby Salsa612 m
- 300 - Main Cafeteria639 m
- Rhythm Chinese Restaurant692 m
- Ai Sushi go694 m
- Burger Factory Nanaimo · 601 Bruce Avenue755 m
Cafes (2)
- Starbucks · 540 Fifth Street657 m
- Tim Hortons698 m
Grocery (1)
- Buy Low Foods682 m
Parks (3)
- Old Harewood School Sports Field · 502 Howard Avenue457 m
- Colliery Dam Park · 801 Nanaimo Lakes Road607 m
- Harewood Centennial Park (Sherry Fields)702 m
Shopping (2)
- University Village · 530 Fifth Street704 m
- Unnamed · 510 Fifth Street780 m
Gyms (1)
- VIU Gym520 m
Pharmacies (1)
- Shoppers Drug Mart775 m
Nearby places data: © OpenStreetMap contributors.
School district: Nanaimo-Ladysmith (SD68)
Similar Listings Nearby
Similar active properties nearby based on property type, price, and size.
1.5 km away
1.8 km away
1.8 km away
1.8 km away
Explore More Homes
Mortgage & Ownership Cost Calculator
Minimum required: 5.0% ($19,950) — 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.