- Active
532 Selby Street
Nanaimo · Vacant Land
- Lot size
- 2,827 ft²
Listed by Royal LePage Island Living (PK) · MLS® 1048777
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Sign inAbout this home
APPROVED FOR A SMALLER SETBACK TO ALLOW A GOOD-SIZED FAMILY HOME! This prime 38 x 74.4 ft cleared vacant lot is an incredible opportunity to bring your plans and develop a building with innumerable possible uses. The board of variance has recently approved a setback of 1.52m which will give more flexibility in building a residential home. Zoned DT8, this flexible use zoning allows for mixed-use commercial and residential, residential use, street level commercial with second and third floors as multi-family residential uses, and more. The location is perfectly suited for a thriving business, adjacent to Nob Hill Park and close to all services and the vibrant Nanaimo Harbour. City services are available to the lot as well as natural gas. Enjoy breathtaking views of the mountain and city by adding height on the upper levels. Whether for single or multi-family residential or commercial purposes, the options are endless. The DT8 zoning permits a variety of businesses, such as pharmacies, offices, restaurants, pubs, daycares & more. Don't miss out on your chance to build your dream property in this fantastic downtown location.
Home facts
- Lot size
- 2,827 sq ft
- Property type
- Vacant Land
- Area
- Old City
- Listed
- September 5, 2026
- PID
- 008-851-298
- Common interest
- Freehold
Rooms and building
- Water
- Zoning
- Residential
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
- $1,184
- Property tax
- $75/mo
- Home insurance
- $150/mo
- Estimated monthly total
- $1,409
Purchase snapshot
- List price
- $249,900
- Down payment
- $49,980 (20%)
- Estimated mortgage
- $199,920
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
- $1,827
- 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
For investors
As a rental
- Estimated rent
- $879 a month
- Gross yield
- 4.2%
Estimated rent from Statistics Canada rents for this area, scaled to the bedrooms. Gross yield is 12 months of that rent over the asking price, before costs.
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 · 36%
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.
