Charming University District Home with Development Potential! Welcome to this delightful University District gem in the heart of Nanaimo—where vintage character meets modern updates and future opportunity. Set on a nearly 9,000 sqft flat lot, this property is zoned COR1 (Corridor), allowing for residential, street-oriented, medium-density, and office development. Whether you’re seeking a comfortable family home or looking ahead to redevelopment potential, this property is a smart investment in a growing neighborhood. Offering just over 1,300 sqft of finished living space, the main floor showcases two bedrooms, a full bathroom, a cozy living room, and a bright updated kitchen that balances style with function. Original 1950s details, including coved ceilings and classic crown mouldings, bring warmth and timeless appeal. The lower level adds even more flexibility with a large, bright bedroom or office space and a newer spa-inspired bathroom—perfect for guests, teens, or a quiet workspace. Plus, you’ll find a 447 sqft partially finished basement with separate outdoor access, ideal as a family room, workshop, or easily completed for additional living space. Recent upgrades ensure peace of mind, including vinyl windows, a 2022 high-efficiency gas furnace, 2025 hot water tank, and 2025 dishwasher. Outdoors, the west-facing yard frames stunning views of Mount Benson, creating a serene setting for relaxation, entertaining, or gardening. Alley access further enhances the property with options for off-street parking, future laneway housing, or a garden suite (buyer to verify with the City). With schools, parks, shopping, and transit nearby, this charming home offers a lifestyle of convenience today, with excellent potential for tomorrow. Don’t miss the chance to own a property that blends character, versatility, and investment appeal. Charming. Flexible. Full of possibilities.