The Opportunity
Overview
223 Victoria Road presents a rare and highly strategic multi-family development opportunity in Nanaimo. Unlike the large-scale multi-family projects that dominate the market and require substantial working capital, this approved four-unit townhouse-style complex offers a more accessible entry point for builders while maintaining strong investment potential. The property is ideally situated within walking distance of downtown and central shopping, ensuring long-term desirability. This project features a unique mix of residential and live-work spaces. The standout unit is a rare live-work design with a 521 sq. ft. ground-floor office space that connects via an internal staircase to a two-bedroom, 774 sq. ft. residential unit above. The second level also has a separate exterior entrance, maximizing functionality and rental appeal. The remaining three units are well-designed two-bedroom residences of approximately 820 sq. ft., each with a private outdoor deck and townhouse-style exterior access. A key highlight of this development is the shared rooftop deck, offering exceptional ocean views of Nanaimo Harbour. With a total project size of 4,728 sq. ft., this development strikes the perfect balance between financial feasibility and high-quality urban living. The approved plans allow for an efficient and profitable build, making it an ideal opportunity for both small and mid-sized developers. 223 Victoria Road is a rare chance to bring a modern, adaptable multi-family project to market in a prime location. With approvals in place and a compelling design, this is a project that stands out in Nanaimo’s evolving real estate landscape. Serious inquiries are welcome. (id:61970)
Investment highlights
- 01Vacant Land
- 02Unknown
Property details
- Property type
- Vacant Land
- Transaction
- sale
- Site area
- 4760 square feet
- Listing brokerage
- Real Broker
- Listing representative
- Kelly Whitton
- Board / association
- Vancouver Island
Financial information
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Location intelligence
Documents
Source Record
Current listing facts, with attribution intact.
- Source
- REALTOR.ca DDF®
- Listing status
- active
- Source ID
- 29253301
- Last supplied
- July 12, 2026
- Listing brokerage
- Real Broker
- Listing representative
- Kelly Whitton
- Board / association
- Vancouver Island
Commercially preserves the source listing’s brokerage attribution and links back to its REALTOR.ca record. Request information to confirm availability, documents, showing protocol and any facts not present in the supplied record.
Listing brokerage: Real Broker · Listing representative: Kelly Whitton · Board/association: Vancouver Island · Updated: Jul 12, 2026
Listing content is supplied through REALTOR.ca DDF®. Information is deemed reliable but is not guaranteed and should be independently verified. Commercially is not the listing brokerage unless expressly stated.
