For Sale: 7 School Avenue, Halifax, NS

About this home

Excellent investment opportunity in a highly convenient Fairview location! This well-maintained property is configured for three units but is currently being rented as two, offering an investor an exciting opportunity to maximize the income potential with minimal changes needed to convert to three legal units. Two excellent tenants are currently in place, and both would love the opportunity to stay. The upper level features a spacious 3-bedroom unit currently rented for $1,730/month, while the middle level offers another 3-bedroom unit and the lower level features a 1-bedroom unit. The middle and lower units are currently rented together for $3,000/month, bringing the current total rental income to $4,730/month. With the property currently operating as two rental units and rents offering room for growth, there is significant upside for an investor looking to increase future rental income. All units are in great condition, with separate entrances and multiple paved parking spaces. Heating is provided by electric baseboards and ductless heat pumps, with tenants paying their own heat and electricity. The property has seen approximately $70,000 in upgrades since 2022, including a brand-new multi-level deck, updated flooring in the lower unit, new appliances, and numerous other improvements. Outside, enjoy a beautiful level backyard with plenty of usable space and a convenient shed for additional storage. Located close to shopping, schools, restaurants, public transit, parks and everyday amenities, with easy access to both Halifax and Dartmouth, this is an ideal opportunity for investors seeking strong existing income, quality tenants, excellent condition and substantial future rental upside. With the building already configured for three units and only minimal changes anticipated to transition to three legal units, this property offers an excellent opportunity to unlock even greater income potential. (id:63626)

Listed by: Chantele Joordens, Exit Realty Metro

Home facts and features

Price details

List Price

$725,000

Home facts

Bedrooms

Full Bathrooms

Parking Details

Paved Yard

Property Type

Multifamily

Lot Size

6111 ft²

Depth

Year Built

Built in 1967 (59 yrs old)

Title

Freehold

Exterior Finish

Vinyl

Heating Type

Heat Pump, Baseboard heaters, Electric, Ductless

Cooling

Air Conditioned

Appliances

Dishwasher, Dryer, Refrigerator, Stove, Washer

Agent details

Primary Agent

Chantele Joordens

Primary Broker

Exit Realty Metro

Listing details

Days on REW

1 Day

MLS® Number

202622616

Source

Canadian Real Estate Association

Board

Nova Scotia Association of REALTORS®

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Property Insights

Schools nearby

10 Schools are within 6km

Burton Ettinger Elementary School

n/a
K - 6
In Catchment

Fairview Junior High School

n/a
7 - 9
In Catchment

Fairview Heights Elementary School

n/a
K - 6
In Catchment

Clayton Park Junior High School

n/a
7 - 9
In Catchment

Duc d'Anville Elementary School

n/a
K - 6
In Catchment

Halifax West High School

n/a
10 - 12
In Catchment

Rockingham Elementary School

n/a
K - 6
In Catchment

Park West School

n/a
K - 9
In Catchment

Grosvenor-Wentworth Park Elementary School

n/a
K - 6
In Catchment

École Beaubassin

n/a
K - 5
In Catchment

7 School AvenueHalifax, NS, B3N 2E1