Real Estate Investment:  Hotel Grade Condo - 202-1250 Stewart Ave, Nanaimo

About This Property                               

Located within a downtown marina, this hotel grade 2-bedroom 2-bath condo unit is offering luxury, comfort and convenience. Ideal for those seeking an easy waterfront living lifestyle, Condo is being used for short term rental at present and generates approx $2100 per month, net, plus the hotel will continue to rent the separate locked off bedroom for an additional $500 per month, potential revenue $2600 per month makes a great investment. all furniture included. cap rate approx 6.3% Overlooks Stewart Channel busy with boats, kayaks, and wildlife. The condo is just two blocks from the scenic waterfront sea-walk leading to Nanaimo's harbour front park, hiking trails , restaurants and shops. Dog or cat (under 25 lbs) is allowed; short term rental is allowed.

Features

  • Built in 2012
  • 860 SQFT
  • $2,600 / month revenue

Asking Price: $399,000

Initial Cash Required: $109,000

Monthly Cash Flow: $755

Annual ROI: 20%

Profit after 10 Years: $220,000

   

     

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