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471 Selby Street
Nanaimo · Other
Listed by Oakwyn Realty Ltd. (NA) · MLS® 1050319
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Sign inAbout this home
Positioned in Nanaimo’s historic Old City, 471 Selby Street offers a rare opportunity with flexible DT8 Mixed-Use zoning. Offering approximately 2,772 sq. ft. of finished space on an 8,944 sq. ft. lot, it is well suited for an owner-occupier, professional practice, creative business or investor. Just minutes from Downtown Nanaimo, the waterfront, Hullo Ferry and Harbour Air, the property combines an accessible urban location with the character of a heritage-style building. Soaring 14-foot cathedral ceilings, abundant natural light and open living areas create an inspiring setting for offices, studios, wellness or professional services, live/work use and other permitted concepts. A fully finished 6-foot basement provides additional space and storage, while the heated detached garage with a full bathroom adds flexibility and potential, subject to approvals. The property underwent a major permitted renovation in 2018, including updated windows, flooring, plumbing, electrical, insulation, a 200-amp panel, hazardous-material remediation and engineer-approved structural upgrades. The foundation was also reviewed by a structural engineer, with recommended work completed, along with new perimeter drainage. Outside, the level, landscaped and fully fenced property offers private outdoor space rarely found with an urban commercial opportunity. A patio and BBQ area, gazebo, deck, mature fruit trees and garden areas provide options for staff amenities, client experiences or a unique live/work environment. DT8 Mixed-Use zoning allows a broad range of uses, including office, retail, restaurant, live/work, multiple-family residential, personal services, daycare, recreation and commercial school, subject to City requirements. A character property with commercial flexibility, residential possibilities and room to evolve, 471 Selby Street offers an opportunity to create something unique in Nanaimo’s downtown neighbourhoods.
Home facts
- Lot size
- 8,944 sq ft
- Parking
- 4
- Property type
- Other
- Area
- Old City
- Listed
- September 22, 2026
- Structure
- Commercial Mix
- PID
- 001-023-233
- Common interest
- Freehold
Highlights
- Waterfront
- Patio
Features and inclusions
- Heating
- Baseboard heaters, Electric
- Cooling
- None
- Lot
- Central location, Level lot, Southern exposure, Other, Rectangular
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
- $3,934
- Property tax
- $242/mo
- Home insurance
- $150/mo
- Estimated monthly total
- $4,325
Purchase snapshot
- List price
- $829,900
- Down payment
- $165,980 (20%)
- Estimated mortgage
- $663,920
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
- $6,068
- 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 · 37%