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Country Gardens

664 Bruce Avenue, Nanaimo

SOLD $4,650,000

Price $4,988,000
Property type 3-building rental complex
Units 19
Storeys 1 & 2
Year built 1964
Lot size 98,010 SF (2.25 acres)
Zoning R6 – Low Density Residential
Price per unit $262,526
Cap rate 3.7%
Gross income multiplier 22.24
Parking 2 covered garages
Development potential Urban Corridor: 20-60 units per acre (base) & 2 to 6 storeys in height
PID 003-007-383
Legal description Section 22, Range 9, Section 1, Nanaimo District, Plan 630
Sale price $4,650,000
Sale date 04/14/2021


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