1550-1554 Vernon Street Street, Halifax, NS B3H3M7
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1550-1554 Vernon Street Street, Halifax, NS B3H3M7
1550-1554 Vernon Street Street, Halifax, NS B3H3M7
1550-1554 Vernon Street Street, Halifax, NS B3H3M7
1550-1554 Vernon Street Street, Halifax, NS B3H3M7
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Zoë Van Wyck

Zoë Van Wyck

+1(613) 851-9388
$ 2,075,000
Est. payment /mo
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Active

1550-1554 Vernon Street Street Halifax, NS B3H3M7

3,977 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Subdivision Halifax

MLS® Listing ID 202624982

Lot Size 3,977 Sqft

Acres 0.0913

Property Sub-Type Freehold

Property Description

A standout opportunity on Vernon Street, just steps from Coburg Road and Dalhousie University. Under the same ownership since 2004, this well-maintained triplex combines strong existing income, zero vacancy and a proven rental history in one of Halifaxs highest-demand rental locations. Comprising three civic addresses1550, 1552 and 1554 Vernon Streetthe property generates $174,692 in gross annual rental income, or $14,558 monthly. With annual operating expenses of approximately $29,275, NOI is $145,417, representing an attractive 7.0% cap rate. Units are separately metered for electricity, which is paid by the tenants; heat and hot water are included in the rents. Current leases are in place, providing income from day one. Significant capital improvements include a new roof and skylights (2022), new natural gas boiler (2022), replacement of wood windows with vinyl, upgraded electrical and most plumbing, and new front and rear steps (2026). Three on-site parking spaces are an added advantage in this highly walkable university neighbourhood. With established income, substantial upgrades already completed and an exceptional location within steps of Dalhousie, this is a rare opportunity to acquire a proven rental property in the heart of Halifaxs university district. (id:24570)

Location

Province NS

Rooms

Kitchen 0.0

Interior

Heating Baseboard heaters, Hot Water, Radiator,

Flooring Hardwood, Laminate, Vinyl

Exterior

Parking Features No

Community Features Recreational Facilities, School Bus

View Y/N No

Attached Garage No

Garage No

Private Pool No

Building

Sewer Municipal sewage system

Others

Ownership Freehold

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NEARBY SCHOOLS & PROPERTIES

Zoë Van Wyck

Zoë Van Wyck

Broker

+1(613) 851-9388

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1550-1554 Vernon Street Street