INVESTOR ALERT Rare value add opportunity in one of Halifaxs strongest rental corridors. This solid multi unit property includes three spacious two bedroom units plus an existing non legal one bedroom basement suite and offers investors a rare advantage of all units vacant at closing, allowing a buyer to immediately renovate, set market rents, and reposition the building to maximize returns from day one. Each upper unit is self contained with its own entrance, hardwood floors, updated windows, and private balconies that provide excellent natural light. The building is efficiently configured with four electrical panels and separate hot water heaters, with tenants paying their own electricity, helping keep operating costs low and management simple. Recent improvements include new siding and fresh paint in two units, reducing near term capital requirements while maintaining strong tenant appeal. Situated on a 50 x 145 ft lot with parking for at least five vehicles, the property offers excellent tenant convenience in a desirable rental location. For investors focused on maximizing value, there is strong upside through renovations and repositioning. Updating the units with modern kitchens and finishes, adding shared laundry, and exploring the opportunity to legalize and improve the existing basement suite (subject to municipal approval) could significantly increase income potential. Based on current market estimates, renovated two bedroom units could achieve approximately $2,000 per month plus utilities, with the one bedroom basement unit estimated around $1,500 per month, creating potential gross rental income of approximately $90,000 annually once stabilized. Ideally located minutes from the Armdale Rotary, Chocolate Lake, and major transit routes, this fully vacant property presents investors with a rare opportunity to renovate, increase rents, and unlock strong long term cash flow and long term equity growth in Halifaxs high demand rental market. (id:47421)
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Detailed Information
Amenities Nearby
Park, Playground, Public Transit, Shopping, Place of Worship, Beach
Features
Balcony
Listing Contract Date
2025-11-10
Location Description
St. Margarets Bay Road Before the Rotary.
Municipal ID
00300780
Ownership Type
Freehold
Property Type
Multi-family
Transaction Type
For sale
Building
Constructed Date
1952
Exterior Finish
Vinyl
Flooring Type
Ceramic Tile, Hardwood, Linoleum
Foundation Type
Concrete Perimeter
Type
Triplex
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Parking Space(s)
Utilities
Type
Description
Cable Available
Unknown
Land
Total Size
0.1636 acres
Amenities
Park, Playground, Public Transit, Shopping, Place of Worship, Beach
Sewer
Municipal sewage system
Size of Irregular Land
0.1636
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