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:4069)
Address
311 Holly Ave
List Price
$599,900
Property Type
Single Family
Type of Dwelling
House
Transaction Type
Sale
Area
British Columbia
Sub-Area
Nanaimo
Bedrooms
3
Bathrooms
1
Floor Area
1,030 Sq. Ft.
Lot Size
7260 Sq. Ft.
Year Built
1964
MLS® Number
1050398
Listing Brokerage
Sutton Group-West Coast Realty (Nan)
Postal Code
V9S3M3
Ownership
Freehold
Parking Places (Total)
4
Heat Type
Baseboard heaters
Cooling Features
None
Fireplace
Yes
Number of Fireplaces
1
