Development site in the heart of Pleasant Valley: an 18,000 sq ft (0.41 acre) R5-zoned lot with municipal water and sewer already connected. Under Nanaimo's small-scale multi-unit housing zoning, R5 allows up to four dwelling units on a lot this size, from a fourplex or triplex to two detached homes with suites, with no maximum floor area ratio. The extra-deep lot steps down from the road beneath mature trees, suiting a terraced or walk-out design, or one substantial new home with a large private yard. A three-bedroom manufactured home sits on the site today; the value here is in the land. Quiet ridge road close to shopping, transit and the Nanaimo Parkway. Ideal for developers planning a fourplex, triplex or duplex; individuals with a dream of designing and building their own home; or buyers seeking an affordable entry onto a large lot with the option to build later. Buyer to verify zoning with the City of Nanaimo. Measurement is approximate.
Data was last updated September 4, 2026 at 02:05 AM (UTC)
Area Statistics
Listings on market:
36
Avg list price:
$712,450
Min list price:
$198,000
Max list price:
$4,135,000
Avg days on market:
42
Min days on market:
7
Max days on market:
150
Avg price per sq.ft.:
$403.98
These statistics are generated based on the current listing's property type
and located in
Na Pleasant Valley. Average values are
derived using median calculations. This data is not produced by
the MLS® system.