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Tom Moore

tom.moore@exprealty.com +1(902) 440-1639

Listed by Keith Kenny • Century 21 Optimum Realty

$ 749,900

Est. payment | -/mo

7 Beds

7,126 Sqft Lot

Save

$ 749,900

Est. payment | -/mo

Save

7 Beds

7,126 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 202527574

Bedrooms 7

HOA Y/N No

Year Built 1952

Lot Size 7,126 Sqft

Acres 0.1636

Property Sub-Type Triplex

Source Nova Scotia

Property Description

INVESTOR ALERT – Rare value add opportunity in one of Halifax's 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 Halifax's high demand rental market.

Location

Province NS

County Halifax

Area 8-Armdale/Purcell'S Cove/Herring Cove

Zoning R-1 - RESIDENTIAL LOW DENSITY

Region Halifax - Dartmouth

City Region Halifax - Dartmouth

Rooms

Basement Finished, Walk-Out Access

Bedroom 2 $3, 643.80

Living Room $18, 000 EST (4th Unit)

Dining Room $90, 000 EST

Kitchen $3000 EST

Interior

Heating Baseboard

Flooring Ceramic Tile, Hardwood, Linoleum

Inclusions 3 Fridges, 4 Stoves, 1 Coin Washer, 1 Coin Dryer.

Equipment No Rental Equipment

Fireplace No

Appliance Stove, Refrigerator, Washer, Dryer

Exterior

Exterior Feature Balcony

Community Features Park, Playground, Near Public Transport, Shopping, Place of Worship, Beach

Utilities Available Cable Connected, Phone Connected, Electricity Connected

View Y/N No

Roof Type Asphalt

Garage No

Private Pool No

Building

Lot Description Under 0.5 Acres

Dwelling Type Apt Non-Conforming

Story 3

Foundation Concrete Perimeter

Sewer Municipal

Water Municipal

New Construction No

Schools

Elementary Schools Springvale Elementary School

Middle Schools St Agnes Junior High School

High Schools Citadel High School

Others

Ownership Freehold

ParcelsYN No

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(902) 440-1639

tom.moore@exprealty.com

358-360 St Margarets Bay Rd Armdale, NS B3N 1J9