639 KENNEDY STREET
Vancouver Island · V9R2J9
$800,000
About this residence
This property offers strong rental income and excellent future potential in the heart of Nanaimo’s Old City. The current dwelling features eight individual studio units with shared bathrooms and laundry facilities, grossing over $6,100 per month in rental revenue. The property is comprised of two separately titled lots, providing an exceptional opportunity for future development—build an additional dwelling on the second lot (details to be confirmed with the City of Nanaimo). Convenient lane access adds further flexibility. Centrally located near downtown amenities, transit, and the waterfront, this property is an ideal addition to any investment portfolio. The home is listed on the heritage register as a non-protected property; it was originally the Dykes Residence. The current use with cooking facilities in each unit has non-conforming status, see more info from City on supplements. All data & measurements are approximate and must be verified if fundamental. (id:61366)
Property details
- Property type
- Multi-family
- Style
- Multi-Family
- Ownership
- Freehold
- Lot size
- 9405
- Annual tax
- $5,942
- MLS®
- 1018397
- Board
- Vancouver Island
- Status
- Inactive
- Listed
- Oct 30, 2025
- Updated
- Oct 30, 2025
Features & finishes
Heating
- Forced air
- Natural gas
Financing
Estimated monthly payment
$3,741/mo
Loan amount
$640,000
Down payment
$160,000
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
Vancouver Island
Nearby
About the area
Census · V9R- 31,992
- Population
- 41
- Median age
- $67,500
- Median income
- $548,000
- Median home value
- 60%
- Home ownership
- 21 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 639 KENNEDY STREET?
639 KENNEDY STREET is listed for $800,000, in Vancouver Island.
What type of home is 639 KENNEDY STREET?
639 KENNEDY STREET is a Multi-family, Multi-Family.
How large is 639 KENNEDY STREET?
The home offers a lot measuring 9405.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $3,741. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $5,942 per year.
What is the Vancouver Island area like?
Vancouver Island has a population of about 31,992, a median age of 41, a 60% home-ownership rate, with an average commute of about 21 minutes.
What is the average home value in Vancouver Island?
The median dwelling value in this area is approximately $548,000, based on census data via Neighbourly.
What is the median household income in Vancouver Island?
The median household income in this area is approximately $67,500.
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