Exceptional multi-family development opportunity in Nanaimo’s rapidly evolving Harbour City. 307 Holly Ave, together with 311 & 315 Holly Ave, offers R8 zoning and comes with an approved Development Permit for a 47-unit apartment building, providing a clear path forward for investors and developers. All three properties are currently tenant-occupied, generating solid rental income while plans progress toward future construction—offering both holding income and development upside. This flexibility allows investors to strategically time development while benefiting from cash flow in the interim. Ideally located close to downtown Nanaimo, the waterfront, and the Harbourfront Walkway, the site is surrounded by key amenities including shopping, restaurants, transit, parks, and educational institutions. The area continues to see strong demand driven by urban revitalization and proximity to employment hubs. Nanaimo’s ongoing growth, coupled with long-term expansion tied to the Port of Nanaimo, positions this offering as a compelling opportunity for future appreciation. With increasing demand for purpose-built rental housing and a streamlined approval already in place, this is a rare chance to secure a prime, shovel-ready multi-family site in one of Vancouver Island’s most dynamic markets. A strategic investment combining location, income, approvals, and long-term growth potential. Measurements approx, buyers agent to verify if fundamental to purchase. (id:57571)
| MLS® Number | 1025201 |
| Property Type | Single Family |
| Neigbourhood | Central Nanaimo |
| Parking Space Total | 6 |
| Bathroom Total | 1 |
| Bedrooms Total | 2 |
| Constructed Date | 1920 |
| Cooling Type | None |
| Heating Type | Other |
| Size Interior | 812 Ft2 |
| Total Finished Area | 812 Sqft |
| Type | House |
| Stall |
| Acreage | No |
| Size Irregular | 7260 |
| Size Total | 7260 Sqft |
| Size Total Text | 7260 Sqft |
| Zoning Type | Multi-family |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Main Level | Kitchen | 12'0 x 9'0 | ||
| Main Level | Bathroom | 4-Piece | ||
| Main Level | Bedroom | 10'0 x 9'5 | ||
| Main Level | Bedroom | 15'0 x 13'8 |
https://www.realtor.ca/real-estate/29325599/307-holly-ave-nanaimo-central-nanaimo
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Real Estate Data supplied by CREA®’s MLS® System. CREA® is the owner of the copyright in its MLS® System. Data deemed reliable but not guaranteed accurate by CREA®. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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