$2,075,000 Sale

Listed 10 days ago

1550-1554 Vernon Street Street

MLS® 202624982 Triplex

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Beds · 0

Baths · 0.0

Parking · 0

Sqft · -

Est. mortgage

$10,582/mo

Key Facts

Key facts for 1550-1554 Vernon Street Street

Property Type

Apartment

Parking

Garage: No, 0 parking

MLS #

202624982

Size

Basement

Listed on

Lot size

Tax

Days on Market

Year Built

Maintenance Fee

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 th...ree 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:10452)

Full Property Details

Interior

Washrooms

0.0

Heating Source

Natural gas

Heating Type

Baseboard heaters, Hot Water, Radiator

Full Bathrooms

Half Bathrooms

Flooring Type

Hardwood, Laminate, Vinyl

Washrooms

0.0

Heating Source

Natural gas

Heating Type

Baseboard heaters, Hot Water, Radiator

Full Bathrooms

Half Bathrooms

Flooring Type

Hardwood, Laminate, Vinyl

Exterior

Acreage

0.0913 ac

Parking Spaces

Garage Spaces Y/N

Land Amenities

Park, Playground, Public Transit, Shopping, Place of Worship

Acreage

0.0913 ac

Parking Spaces

Garage Spaces Y/N

Land Amenities

Park, Playground, Public Transit, Shopping, Place of Worship

Building Description

Home Type

Apartment

Subtype

Triplex

Exterior

Aluminum siding

Sewers

Municipal sewage system

Water Supply

Municipal water

Home Type

Apartment

Subtype

Triplex

Exterior

Aluminum siding

Sewers

Municipal sewage system

Water Supply

Municipal water

Community

Halifax

Area Code

Halifax

Features

Recreational Facilities, School Bus

Community

Halifax

Area Code

Halifax

Features

Recreational Facilities, School Bus

Other

Virtual Tour Link

https://youriguide.com/1550_vernon_st_halifax_ns/

Virtual Tour Link

https://youriguide.com/1550_vernon_st_halifax_ns/

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Christian Bailey

Email: [email protected] Cell: 902-710-4066