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Tom Moore

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

Listed by Kelly Reardon • Royal LePage Atlantic

$ 2,585,000

Est. payment | -/mo

6 Beds

4,517 Sqft Lot

Save Virtual Tour

$ 2,585,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

4,517 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID 202610661

Bedrooms 6

HOA Y/N No

Year Built 1881

Lot Size 4,517 Sqft

Acres 0.1037

Property Sub-Type Quadruplex

Source Nova Scotia

Property Description

Few properties in Halifax carry the presence of this 1880 Schmidtville residence. All four units total 5,400 square feet. The main home is 3,400 square feet across three graceful storeys and is presently occupied by the owners. Together, the three rental units generate $91k in annual gross rental income and $65k in annual net income. At an estimated 4.5%-5% cap rate, the rental component alone supports a valuation of roughly $1.3m to $1.45m This values the main unit between $1.15m and $1.3m at the list price - substantially below what a standalone home like this would be valued at, creating a large built-in discount. Alternatively, you can rent out the main unit. It was previously rented for $7,050 monthly (Gross of $175k and net of $130k annually). There's potential to increase this in numerous ways. With 11½-foot ceilings on the main floor the main residence commands its surroundings with the kind of architectural character that simply cannot be replicated today. A rooftop patio completes the picture, offering sweeping views over one of the city. The main residence offers five bedrooms and three bathrooms arranged across a classic Halifax layout, with generous room sizes, original character, and thoughtful recent renovations throughout. Step outside and the best of Halifax is on foot: Spring Garden Road a block away, the waterfront five minutes, the city's finest restaurants and boutiques within easy reach. Citadel High School is a fifteen-minute walk. Rarely does a historic home of this calibre come paired with income that essentially carries itself. Three fully self-contained rental units two behind the main house (a one-bedroom and a four-bedroom) and one at street level operate with complete separation from the primary residence. They require virtually no management and vacancy- when it occurs at all - it fills within days. Many upgrades and renovations have been completed over the past year.

Location

Province NS

County Halifax

Area 2-Halifax South

Zoning HCD-SV

Region Halifax - Dartmouth

City Region Halifax - Dartmouth

Rooms

Basement Finished

Dining Room $65000

Interior

Interior Features Dining Room, Ensuite Bath, Family Room, Multi-Use Rooms, Secondary Suite

Heating Radiator

Flooring Ceramic Tile, Hardwood, Tile

Equipment No Rental Equipment

Fireplace No

Appliance Dishwasher, Dryer, Washer, Refrigerator, Stove

Laundry Laundry

Exterior

Exterior Feature Balcony

Community Features Park, Near Public Transport, Recreation Center, School Bus Service, Shopping, Place of Worship

Utilities Available Natural Gas Connected

View Y/N No

Roof Type Asphalt

Garage No

Private Pool No

Building

Lot Description Under 0.5 Acres

Foundation Concrete Perimeter

Sewer Municipal

Water Municipal

New Construction No

Schools

Elementary Schools Saint Mary'S Elementary School

Middle Schools Gorsebrook Junior High School

High Schools Citadel High School

Others

Ownership Freehold

ParcelsYN No

Virtual Tour https://unbranded.youriguide.com/vI2TMH61DUZOD1/

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

1278 Queen St Halifax, NS B3J 2H4