69 Lake Pl Nanaimo, BC V9T 5S1

A compelling North Nanaimo investment opportunity with both holding income and future redevelopment potential. This nearly 1-acre rectangular, gently sloping parcel offers efficient topography & southern exposure; key attributes for practical site planning, natural light, & strong end-product marketability. Located in an established neighbourhood with municipal water, the property offers a land position in a proven area. Zoned R5 and supported by the City of Nanaimo OCP, the site has potential for multi-unit residential development, including building strata or clustered housing (buyer to verify). Two existing dwellings provide revenue while development plans are advanced: Main residence: 1,311 sq ft, 3 bed, 2 bath (de-registered manufactured home) Secondary accommodation: 626 sq ft, 1 bed, 1 bath suite with full kitchen A usable site, income in place & future density potential combine to create a strategic land-hold and development opportunity in North Nanaimo.