Real Estate Investment:  Student Built Housing - 107 - 308 Hillcrest Ave, Nanaimo

About This Property

This investment property offers purpose-built student housing in new construction. Just three city blocks from Vancouver Island University, one block from the aquatic centre, gym, parks and arena, and an easy walk to the Old City Quarter and City Centre, this location also has public transit just steps from the front door. 

Each building has four separate, complete student living areas, each with a large bedroom, oversized closet, full ensuite and a balcony. The main floor is comprised of a shared kitchen, dining and living area, two-piece washroom, storage and deck areas. Second and third floors each have a separate laundry. 

This strata-titled property provides owners with over five percent return (net) and management of the property. A Rental Disclosure Statement protects the rental of the units. 

This investment property is located only three blocks from Vancouver Island University, one block from the aquatic centre, gym, parks and arena, and an easy walk to the Old City Quarter and City Centre. Public transit is available just steps from the front door. 

The strata-titled property provides owners with management of the property, including maintenance of the building exterior, landscaping, services and common area maintenance. 

A Rental Disclosure Statement protects the rental of these units. 

Zoning 

The property is zoned Corridor 2 which provides for mixed use, street-oriented development along urban arterials and major collector roads and includes Multi-Family use. 

Features

  • Built in 2019
  • 1,823 SQFT
  • 4 Bed / 5 Bath

Asking Price: $579,000

Initial Cash Required: $158,000

Monthly Cash Flow: $384

Annual ROI: 22%

Profit after 10 Years: $360,000

   

     

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