For Sale: 438 Wakesiah Avenue, Nanaimo, BC - REW
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$5,390,000
0 bd • ba • sf • Multifamily
438 Wakesiah Avenue
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$5,390,000
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438 Wakesiah AvenueNanaimo, BC, V9R 3K8

University District
  • 0 Bed
  • Bath
  • Sqft
  • Multifamily

About this home

Prime Student Housing Investment with Licensed Inn Component – Ideally located directly across from VIU, this property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. It features 25 units (13 single-bed & 12 double-bed), totaling 37 beds, with consistently strong occupancy driven by reliable student demand. Its prime location supports steady, recession-resistant income & long-term rental stability. A key highlight is the approved inn license, allowing up to 12 rooms for short-term rental use. This flexible hybrid model provides excellent upside—maintain stable income from student rentals while increasing returns through short-term accommodation, especially during summer months. Built with durability, 15 rear parking stalls, lane-access parking. Close to all amenities, further enhancing tenant appeal. Stable income with strong upside potential. All info, data & measurements approximate; verify if important.
Listed by
Julie Liang PREC*
Julie Liang PREC*
REMAX Professionals (NA)
Mandarin, English
Recent transactions
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Listing agent
829 Harewood Mines Rd
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Listing agent
1395 Rose Ann Drive
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Buyer agent
5675 Metral Drive
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Listing agent
14 1600 Brynmarl Road
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Buyer agent
523 Armishaw Road
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Home facts and features

Price details
List Price
$5,390,000
Get Pre-Approved
Gross Taxes for 2025
$37,843
Home facts
Bedrooms
0
Full Bathrooms
Parking Spaces
17
Property Type
Multifamily
Lot Size
12917 ft²
Title
Freehold
Exterior Finish
Frame Wood,Insulation All,Insulation: Ceiling,Insulation: Walls
Heating Type
Baseboard, Hot Water, Natural Gas
Features
Central Location, Easy Access, Landscaped, Level, Sloping, Southern Exposure
Amenities
Recreation Nearby, Shopping Nearby
Community
Agent details
Primary Agent
Primary Broker
REMAX Professionals (NA)
Listing details
Days on REW
69 Days
Property Views
197
MLS® Number
1030328
Source
Victoria and Vancouver Island MLS
Board
Vancouver Island Real Estate Board
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Estimated Payments
Purchase Price
Mortgage Total
Down Payment
Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Georgia Avenue School
  • Public
  • Pre-K - 7
  • In Catchment
The High School at VIU
  • Independent
  • 10 - 12
John Barsby Community School
  • Public
  • 8 - 12
Pauline Haarer Elementary School
  • Public
  • K - 7
Quarterway School
  • Public
  • Pre-K - 7
Discover Montessori School
  • Independent
  • K
Nanaimo Christian School
  • Independent
  • K - 12
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Julie Liang PREC*
Phone:
778-971-0588
Cell:
778-971-0588
Office:
250-751-1223
Fax:
250-751-1300
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