Highland Place Apartments
2600 Highland Boulevard, Nanaimo, BC
FOR SALE
Property Overview
- Address 2600 Highland Boulevard, Nanaimo, BC
- Lot Size 72,310 sf (1.66 acres)
- Zoning R8 - Medium Density Residential
- Year Built 1973
- Units 56
- Parking 97 surface-level parking stalls
- Sale Structure Bare Trust - PTT savings will apply
- Price Per Unit $250,000
- Cap Rate 5.10%
- Pricing Guidance $14,000,000
Opportunity
The Avison Young Multi-Family Team is pleased to present Highland Place Apartments, a 56-unit rental building at 2600 Highland Boulevard, Nanaimo, BC. Well-maintained and professionally managed, the Property has undergone significant capital improvements with 33 suites already renovated, offering a strong going-in yield and future upside through natural tenant turnover.
Located in Nanaimo's desirable Departure Bay neighbourhood, Highland Place overlooks the Nanaimo Golf Club with direct access to the Island Highway and key amenities including healthcare, retail, post-secondary education, and regional transit.
For investors targeting Vancouver Island's growing multi-family market, Highland Place represents a strategically positioned, near turn-key opportunity in a balanced and resilient submarket.
