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FIND OUT MORE ABOUT 619 PINE STREET, NANAIMO BRITISH COLUMBIA V9R2C7 (MLS® #1053326)
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+5 more
619 Pine Street, Nanaimo, British Columbia
$599,000
5
Beds
2.0
Baths
2,093
Square feet
0.2140
Acres
About 619 Pine Street
Strong rental income today. Substantial land value and redevelopment potential for tomorrow. The generous 9,300 sq. ft. lot and R8 zoning provide substantial future potential, while the character home offers immediate rental appeal. Features include original hardwood floors, coved ceilings, abundant natural light, a bright kitchen with southern Mt. Benson views, spacious living areas, an oversized primary bedroom, and a large 3-bedroom lower suite! Enjoy a private south-facing deck and fenced backyard, plus recent updates including a newer roof, windows, and furnace. Conveniently located near shopping, schools, and transportation. Cash-flow positive rental income covers your mortgage and principal. And an investor's intention to build an apartment building on this R8-zoned 9000+ sq ft lot could qualify for 100% financing through the CMHC Apartment Construction Loan Program. This income-producing property offers investors a compelling combination of current rental revenue and long-term redevelopment potential in Nanaimo’s historic Chinatown neighbourhood. The property currently generates $3,600/month ($43,200/year) in rental income, with month-to-month tenants who wish to stay. The generous 9,300 sq. ft. lot and R8 zoning provide significant long-term potential, making this an attractive holding property for investors looking beyond immediate positive cash flow. Recent updates include a newer roof, windows, and furnace. Conveniently located close to shopping, schools, and transportation. Measurements are approximate; buyer to verify. (id:66920)
Key Features
Washer
Refrigerator
Range - Gas
Dryer
Central location
Cul-de-sac
Level lot
Park setting
Southern exposure
Irregular lot size
Other
Westcoast
City view
Mountain view
Open
Street
Forced air
Electric
Natural gas
None
House
Open House
Sat, May 30th, 2026 @ 2pm - 4pm
No RSVP required. Drop in anytime during the open house window.
Listing courtesy of Vancouver Island Real Estate Board.
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. Data is deemed reliable but is not guaranteed accurate by CREA.
