About 571 Albert St
Exceptional investment opportunity featuring a meticulously maintained 10-unit rental building constructed in 2019. The property generates more than $12,000 per month plus utilities, with a projected cap rate of approximately 4.5%–5%. Ideally located near transit, ferries, sea plane service, shopping centres, schools, parks, churches, and other essential amenities. Building maintains 100% occupancy, supported by an ongoing tenant wait-list that reflects the strong demand for rental housing in this location. Professionally managed and exceptionally clean, the property benefits from a stable roster of responsible tenants and offers a straightforward, low-maintenance investment. With the seller preparing for retirement, attractive vendor-financing options may also be available. Whether expanding an established portfolio or entering the multifamily rental market, this property offers reliable income, modern construction, strong tenant demand, and excellent long-term investment potential.
Features of 571 Albert St
| MLS® # | 1042858 |
|---|---|
| Price | $2,490,000 |
| Square Footage | 6,000 |
| Acres | 0.15 |
| Type | Commercial Sale |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 571 Albert St |
|---|---|
| Area | Na Central Nanaimo |
| City | Nanaimo |
| County | Nanaimo Regional District |
| Province | BC |
| Postal Code | V9R 2W1 |
Amenities
| Utilities | Cable To Lot, Electricity To Lot, Phone Available |
|---|---|
| View | City, Mountain(s) |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Baseboard |
|---|---|
| Fireplace | No |
Exterior
| Construction | Vinyl Siding |
|---|---|
| Foundation | Poured Concrete, Slab |
Additional Information
| Date Listed | July 16th, 2026 |
|---|---|
| Days on Market | 56 |
Listing Details
| Office | Sutton Group-West Coast Realty (Nan) |
|---|