$750,000
639 Kennedy St
Beds
8
Baths
2
Sqft
—
Year
—
Location
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Open the map for street view, commute checks, and nearby schools, groceries, mosques, parks, and transit stops.
About this home
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:65958)
- Subtype
- Single Family
- Structure
- House
- Community
- Old City
- Common interest
- Freehold
- Living area
- 2,352 square feet
- Lot size
- 9,405 square feet
- Lot dimensions
- 9405
- Parking
- 2 total
- On market
- Oct 30, 2025
- Status changed
- Apr 14, 2026
- Annual tax
- $5,942
- Zoning
- Multi-Family
- Photos
- 29
- MLS#
- 1018400
- Area
- NANAIMO
Features and systems
Parking
Heating
Cooling
Lot
Cash on cash
-11.84%
Cap rate
3.52%
GRM
16.7
Break-even rent
$5,308
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Lifestyle nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Nanaimo. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 14, 2026.