Chelsea at Longwood 4775 Upland Dr 48 Unit Apartment Building $25,000,000 CAD ($520,833 CAD/Unit) Nanaimo, BC V9T 6L8

Chelsea at Longwood presents a rare opportunity to acquire a brand-new, stratified 48-suite multifamily rental asset in the prestigious Longwood Estates of North Nanaimo. Scheduled for completion in Q1 2026, this purpose-built rental property was originally designed as a luxury condominium development and is being constructed to condo-quality standards. The building features large, modern suites with high-end finishes, stainless steel appliances, in-suite laundry, fireplaces, air conditioning, and expansive covered balconies.
Strategically positioned in an award-winning, adult-oriented community, Chelsea at Longwood is tailored to attract “active adult” tenants seeking upscale living with proximity to amenities and lifestyle services. Located within walking distance to grocery-anchored retail, restaurants, medical clinics, and transit, the property also benefits from adjacency to the Origin at Longwood senior living residence, offering potential tenants access to a continuum of care and lifestyle programming.
The offering includes 48 parking stalls and a suite mix of 29% one-bedroom and 71% two-bedroom units, with an average unit size of 806 square feet. Investors will appreciate the opportunity to scale, as a second identical 48-suite building is planned for late 2026, enabling operational efficiencies and portfolio growth.
Developed by Gulf Properties and built by Westmark—both highly experienced and award-winning Vancouver Island firms—Chelsea at Longwood is a best-in-class asset in one of Nanaimo’s most desirable submarkets.