A Rare Investment Opportunity in the Heart of the University District. This legal duplex offers exceptional value for homeowners and investors alike. Perfectly situated near schools, parks, and major transportation routes, it provides unbeatable convenience in one of Nanaimo’s most sought-after rental areas. Each side offers 778 sq ft of smartly designed living space, featuring 2 bedrooms, 2 bathrooms, and a large laundry room—a layout that is consistently in high demand. The property is fully occupied with excellent tenants, offering immediate and reliable income from day one.
Extensive updates mean peace of mind and reduced future maintenance costs. Improvements include a newer roof, updated windows, modern flooring throughout, newer perimeter drainage, fresh paint, and more. With schools and amenities just minutes away—Malaspina Pre-School (1 min), Fairview Elementary (2 min), NDSS (10 min), Nanaimo Ice Centre (14 min), and VIU (20 min)—this location appeals to families, students, and long-term renters alike.
Whether you're looking for a smart addition to your portfolio or a home with the added benefit of rental income, this property stands out as a strong, low-risk investment with excellent value. All measurements are approximate and should be verified if important.
Address
502 Elizabeth St
List Price
$699,900
Property Type
Residential
Type of Dwelling
Full Duplex
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na University District
Bedrooms
4
Bathrooms
4
Floor Area
1,556 Sq. Ft.
Lot Size
5940 Sq. Ft.
Lot Size (Acres)
0.14 Ac.
Year Built
1954
MLS® Number
1020451
Listing Brokerage
2% Realty Pacific Coast Inc.
Basement Area
Crawl Space, Unfinished
Postal Code
V9R 3C9
Tax Amount
$4,809.00
Tax Year
2025
Features
Baseboard, Electric, F/S/W/D, Laminate, Mixed
