571 Albert St

571 Albert St · Nanaimo · Multi-Family · $2,490,000 · MLS 1042858

Nanaimo, British Columbia
C$2,490,000
For sale
571 Albert St

571 Albert St is located in Nanaimo. Property snapshot: Multi-Family, listed at $2,490,000, MLS 1042858. Compare transit, schools, similar supply, strata/carrying costs and resale liquidity—not just photos and asking price. Current DOM/site exposure: 3. Latest recorded list price 2490000.00.

List Price: $2,490,000
MLS: 1042858
Days on Site: 3
Price History: Latest recorded list price 2490000.00

Local Decision Guide

How should buyers evaluate 571 Albert St?

Start by reading this listing in its Nanaimo context: price, property type, land or strata setup, age, transit, schools, similar supply, carrying costs and resale liquidity should be considered together, not just photos and asking price.

What should be checked before writing an offer?
  • Recent comparable sales, competing active listings, days on market, price changes and current market pace.
  • Property condition, inspection risk, insurance, financing, tax, title and any disclosure documents.
  • For strata homes, review minutes, contingency reserve, special levies, rental rules and pet bylaws.
How do buyers find land with rebuild or multiplex potential, what should they watch, and how can returns be improved?

To find land with this potential, start with zoning, lot size, frontage, lane or driveway access, servicing, trees, slope, basement conditions, BC Assessment, title restrictions and municipal permits. The highest-return plan is usually not simply the maximum unit count; it is the best balance between approval risk, construction cost, rent or resale pricing, floor-plan efficiency, parking and holding period.

What does this page not replace?

It does not replace a realtor, lawyer, inspector, mortgage broker, insurance review, tax advice, strata documents, BC Assessment or municipal records. Use it to form better questions, then verify independently.

Listing FAQ

What is the current list price for 571 Albert St?

This page shows a list price of $2,490,000 with MLS 1042858.

What type of home is this Nanaimo listing?

The page shows Multi-Family at 571 Albert St. Buyers should still verify strata/land context, interior size, age and inspection findings.

How long has this listing been on the market?

Current records show about 3 days on market/site. Latest recorded list price 2490000.00.

What should buyers check first on this listing?

Start with price, location, property type, land or strata context, condition, schools/transit, recent comparable sales and carrying costs; if redevelopment or multiplex potential matters, also review zoning, lot size, servicing and municipal rules.

Can AI analysis replace professional advice?

No. AI analysis is for faster context and market screening; final decisions should still rely on a realtor, lawyer, inspection, financing, tax and municipal due diligence.

Remarks

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, float-plane service, shopping centres, malls, 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. (id:56153)

Property Details

Multi-Family
Building Type
-
Bedrooms
-
Bathrooms

Transaction: For sale

Status: active

Listing ID: 30048480 (1042858)

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Site Context

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Includes local area, zoning, floodplain, easement, development activity, and city-level site context signals.

Property Summary

Price: C$2,490,000

PID: 026-089-921

Days on Site: 3 days

Added to BurnabyHouse: 2026-07-17

Updated on: 2026-07-17 12:03 PM PDT

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Lot info

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Includes parcel identifiers, size details, and land and approval context.

Schools

No school catchment matches were found for this listing yet.

Nearby Points of Interest

Grocery / Food Access
About 136.3 m away
About 455.7 m away
385 Terminal Avenue
Shopping Centres
About 401.8 m away
About 632.4 m away
650 Terminal Avenue

Price History

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View price changes, listing events, and the full timeline.

BC Assessment

Click the button below to check the government assessment, sales history, and nearby market pricing for this property.
BC Assessment Sales History & Nearby Sales

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Last Updated: Fri, 17 Jul 2026 11:41:41 AM PDT

Data Provider: Greater Vancouver REALTORS®

Listing Office: Sutton Group-West Coast Realty (Nan)

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