1550-1554 Vernon Street Street,Halifax, NS B3H3M7
Halifax, NS B3H3M7
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:374)
Details
| MLS # | 202624982 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 21 |
| Listing Provided By | Royal LePage Atlantic | Mia Rankin |
Features
| Acreage | 0.09 |
|---|
Interior
| Heating | Baseboard heaters, Natural gas, Radiator, Hot Water |
|---|---|
| Appliances | Washer, Dryer - Electric, Refrigerator, Dishwasher, Stove |
| Fireplace Yes / No | No |
Exterior
| Foundation Details | Stone, Unknown |
|---|
Parking
| Parking Features | Gravel, Shared |
|---|
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Area Information
| Province | NS |
|---|---|
| City | Halifax |
| Postal Code | B3H3M7 |
| Listing VS Median (in B3H3M7) | |
Price: $2,075,000 low | high Med: $0 On site: 21 low | high Med: | |
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Learn More About This Property
| Province | NS |
|---|---|
| City | Halifax |
| Postal Code | B3H3M7 |
| Listing VS Median (in B3H3M7) | |
Price: $2,075,000 low | high Med: $0 On site: 21 low | high Med: | |
 | $2,149,9001630 Vernon StreetHalifax, NS B3H3N1 |
