+38 more
10
Bedrooms
3
Bathrooms
4,731 sqft
Living Area
0.121 ac
Lot
1930
Year Built
About This Property
This 10-bedroom, 3-bathroom single family in Halifax offers 4,731 sqft of living area on a 0.121 ac lot. Built in 1930, 2 storeys. The property has lot dimensions of 0.1205. The home features hardwood and ceramic tile and vinyl flooring, heat pump, a finished, full basement.
MLS Remarks
Turnkey income property located in Halifaxs premier university rental corridor and within walking distance to multiple universities and major hospitals, 1645/1647 Oxford Street presents a rare opportunity to acquire a fully rented South End legal duplex with strong, stable cash flow and long-term upside. Ideally positioned for the high-demand student rental market, the property offers an approximate 6.85% cap rate and generates an estimated Net Operating Income of $102,433 annually, with total operating expenses of $24,166.36 per year and gross revenue of $126,600. The building features 10 bedrooms, including a seven-bedroom upper flat spanning two levels and a bright three-bedroom lower unit with an open-concept kitchen and living area, along with parking for four vehicles. Situated on a 5,250 sq ft corner lot within the ER3 Low Rise High Density zone under the HRM Centre Plan, the property also offers excellent redevelopment potential. Each unit has separate entrances and power meters for ease of management. Extensively upgraded and well maintained, major improvements since 2015 include the addition and 2024 renovation of the basement unit, upgraded electrical systems, replacement of the lead water service line and cast iron piping, blown-in insulation, heat pumps, exterior drainage improvements, updated siding and windows, and a new roof in 2023. Located adjacent to Dalhousie and Kings College and close to hospitals, amenities, and transit, this property benefits from consistently strong rental demand, low vacancy rates, and ongoing enrollment growth, making it a reliable, long-term income-producing asset. (id:60351)
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