438 Wakesiah Ave

Description

Prime Student Housing Investment with Licensed Inn Component – Nanaimo, BC Ideally located directly across from Vancouver Island University (VIU), this purpose-built student housing property offers a rare opportunity to own a stable, income-producing asset in one of Nanaimo’s most desirable rental locations. The building 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 and 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 and low maintenance in mind, features include granite countertops, quartz-tiled entry, modern finishes, Low-E windows, multi-zone hot water heating, and a pressurized water system. Additional amenities include on-site laundry, bike storage, 15 rear parking stalls, lane-access parking, and full security camera coverage. Conveniently located close to shopping, recreation, and transit, further enhancing tenant appeal. Stable income with strong upside potential. Measurements approximate; verify if important. (id:65701)

Property Details