$1,200,000
5621 Hammond Bay Rd
Beds
5
Baths
3
Sqft
—
Year
1972
About this home
Strategic investment opportunity in one of Nanaimo's most desirable neighbourhoods. This 1.7-acre ocean-view property includes a 5-bedroom, 3-bath home offering immediate rental income with an option to add a basement suite for a great holding property while planning your next project. With R10 zoning supporting up to 16 units per hectare, the site is ideal for future townhome or duplex development. The gently sloping terrain offers excellent ocean-view exposure, and mature, saleable timber on the property provides revenue or offsets development costs. Located minutes from schools, parks, shopping, and transit, this property combines short-term income potential with long-term redevelopment upside -an exceptional opportunity for builders and investors alike. Can be purchased as a package with MLS: 1020314 All data and measurements approximate; buyers to verify if important. (id:65958)
- Subtype
- Single Family
- Lot size
- 1.7 acres
- MLS#
- 1020319
- Area
- NANAIMO
Cash on cash
-11.60%
Cap rate
3.57%
GRM
16.7
Break-even rent
$8,442
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.
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 16, 2026.