1620 Loat Street is a 7,200 sq ft. ocean view lot with gentle topography and desirable R5 zoning as the property provides exceptional flexibility for both homeowners and developers alike. This is ideally located amongst established homes and offers sweeping ocean and coastal mountain views. Existing sewer main is located across the frontage of this lot which is helpful to service your development plans potentially easier via tapping into existing available and well located service mains are adjacent to any future buildings constructed. The property can be purchased together with 1630 Loat Street for a combined 14,400 sq ft site. Use the cash flow from the rental to help with carrying costs through your permitting phases.

Property Highlights

• Properties can be purchased individually or together
• Fourplex zoning
• Built-to-suit or vendor-financing considered
• 1630 Loat Street is the last infill lot in the area

LOT 3, BLOCK 9, SECTION 1, WELLINGTON DISTRICT, PLAN 414 / LOT 2, BLOCK 9, SECTION 1, WELLINGTON DISTRICT, PLAN 414

Departure Bay is a well-established, ocean-oriented neighbourhood in north Nanaimo centred around Departure Bay Beach and the ferry terminal. It has a mix of long-time owner-occupiers, professional households, and retirees, with pockets of higher-end ocean-view homes on the hillsides and more attainable 1960s–1990s single-family stock and lowrise condos closer to the bay. The area’s appeal is driven by walkable waterfront access, relatively quiet residential streets, and proximity to daily needs, making it consistently desirable for both end-users and rental demand. Highlights include Departure Bay Beach, waterfront parks and trails, nearby shopping and services along the Island Highway corridor, and quick access to downtown Nanaimo by car. The BC Ferries terminal in the neighbourhood is a major connectivity asset into the Lower Mainland and downtown Vancouver.

Transit
Bus 72 line located along a short walk up to next cross street on Glenayr Drive.