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65 Gordon Avenue, HALIFAX
2024-08-14
Quick Summary
MLS®#202419568
Property Description
Exceptional Investment Opportunity: 4-Plex Townhouse Complex Discover an incredible investment opportunity with this well-maintained 4-plex townhouse complex, perfectly positioned to deliver significant returns. This property features four spacious two-storey townhouses, each offering 3 bedrooms and plenty of living space. With each unit separately metered for power and heating, tenants pay their own utilities, making this a low-maintenance and efficient investment. Property Highlights: 4 Townhouse Units: Each unit is thoughtfully designed with 3 bedrooms, private laundry, and access to a full basement (unfinished) for additional storage or potential future improvements. Utilities: Tenants are responsible for their own utilities (excluding cold water), offering a straightforward and hassle-free income stream. Undervalued Rent Potential: Two of the units are currently rented at below-market rates, providing an incredible upside for rental income. With all units adjusted to market rent, this property boasts a strong 6.99% cap rate at the asking price. Individual Features: Each townhouse includes a private paved driveway, access to a shared lawn space, 100-amp electrical service, an oil tank, and an individual furnace. Current Rental Income: Units are rented at $2,500 (Fixed lease), $2,500 (Fixed lease), $1,100 (Periodic lease), and $1,250 (Periodic lease) per month, with tenants responsible for their own utilities. This diverse rental structure offers stability with room for growth. Investor Potential: This 4-plex presents an extraordinary opportunity for both seasoned and new investors alike. With undervalued rents in two of the units, there is significant potential to increase revenue and enhance the property's overall return. The convenience of individual metering and tenant-paid utilities further ensures a low operating cost, maximizing your net income. Seller is a licensed real estate member with the Nova Scotia Real Estate Commission. (id:32467)
Property Features
Building
- Basement Development: Unfinished
- Basement Type: Full (Unfinished)
- Exterior Finish: Wood siding
- Fireplace: No
- Flooring Type: Ceramic Tile, Hardwood
- Building Type: Fourplex
- Utility Water: Municipal water
Land
- Land Size: 0.2274 ac
- Sewer: Municipal sewage system
Ownership
- Type: Freehold
Information entered by Air Realty Limited
Listing information last updated on: 2024-08-14 15:27:52
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Alison McNair REALTOR®
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