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1015 Park Avenue
Nanaimo · Vacant Land
Listed by Sutton Group-West Coast Realty (Nan) · MLS® 1050853
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DEVELOPMENT OPPORTUNITY! 1015 Park Avenue is a 4.74-acre multi-family site offering significant density potential of up to 36 townhouse units. The Suburban Neighbourhood OCP designation supports up to 25 units/ha. With site-specific rezoning approval, preliminary concepts indicate the property could potentially accommodate up to 36 townhomes. A 2024 topographic survey and slope analysis identify approximately 1.463 ha of developable area. Concept layouts explore building placement, access and grading in response to site constraints, giving developers a solid starting point to assess feasibility and design. Due-diligence materials include survey, slope and geotechnical information, terrain modelling and concept plans. Minutes from VIU, transit, schools, shopping and major routes, this is an opportunity to pursue a higher-density townhouse project in Nanaimo. Concepts and unit counts are preliminary; all development is subject to purchaser due diligence and required municipal approvals.
Home facts
- Property type
- Vacant Land
- Area
- South Nanaimo
- Listed
- September 25, 2026
- PID
- 026-876-795
- Common interest
- Freehold
Highlights
- Mountain view
- City view
Features and inclusions
- Lot
- Acreage, Central location, Park setting, Southern exposure, Wooded area, Corner Site, See remarks, Other
Rooms and building
- Water
- Zoning
- Unknown
The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
Monthly and upfront costs
Uses the posted 5-year rate (5.19%), 20% down and a 25-year amortization.
Monthly ownership costs
- Principal and interest
- $9,475
- Property tax
- $583/mo
- Home insurance
- $150/mo
- Estimated monthly total
- $10,208
Purchase snapshot
- List price
- $1,999,000
- Down payment
- $399,800 (20%)
- Estimated mortgage
- $1,599,200
Estimates only. They leave out utilities, upkeep and closing costs.
Borrowing costs
What money costs right now
The rates behind any payment estimate on this page.
- Prime rate
- 4.45%
- Variable mortgages are quoted against this.
- 5 year bond yield
- 3.68%
- Fixed mortgage pricing follows this.
- Policy rate
- 2.25%
- Set by the Bank of Canada.
These are benchmark rates, not mortgage quotes. Your rate depends on the lender, the term, and your file.
Source: Bank of Canada. As of 2026-09-29
Property tax
What the tax bill looks like
Municipal, regional, hospital and school rates combined.
- Estimated annual tax
- $14,616
- At 7.3118 per $1,000 of assessed value.
Estimated by applying the municipal rate to the asking price. Your actual bill is based on the BC Assessment value, which is set separately and usually differs from the sale price. Home owner grants are not included.
Source: Province of British Columbia, Local Government Statistics Schedule 702, 2026. As of 2026-01-01
Neighbourhood
Estimated travel times. Map data © OpenStreetMap contributors.
Climate
What the weather is like in Nanaimo
Ten year average, 2016–2025.
- Average temperature
- 10.4°C
- Daily mean across the year.
- Yearly precipitation
- 0 mm
- On the drier side for BC.
- Bright sunshine
- 1,940 h
- Hours of sun a year, 1981–2010 average.
Averaged from the last ten complete years of Environment Canada observations at the nearest principal station, so it reflects the climate as it is now rather than a thirty year normal. Bright sunshine is the exception: it is no longer measured at these stations, so that figure is the long term average.
Source: Environment and Climate Change Canada, monthly climate summaries
Land and hazards
What the maps say about this land
Provincial designations and mapped natural hazards at this location.
- Wildfire interface
- Low risk
- In a mapped wildland-urban interface zone. Affects insurance and FireSmart requirements.
Based on where this point falls in provincial map layers, not a site survey or a formal hazard assessment. Confirm with the municipality, a professional, and your insurer before relying on it.
Source: BC Geographic Warehouse (Agricultural Land Commission, BC Wildfire Service)
Most listed
Detached · 41%
Who lives here
Documents
Pick the records you want. Ray Rasouli will email what the listing brokerage shares.
Availability is not guaranteed. Review documents with a professional.
