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Philip Jonker

phil@propertyhalifax.ca +1(902) 817-4708

Listed by Mia Rankin • Royal LePage Atlantic

$2,075,000

Est. payment - /mo

12 Beds

3,977 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 202624982

Bedrooms 12

HOA Y/N No

Lot Size 3,977 Sqft

Acres 0.0913

Property Sub-Type Triplex

Source Nova Scotia

Property 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 Halifax's highest-demand rental locations. Comprising three civic addresses—1550, 1552 and 1554 Vernon Street—the 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 Halifax's university district.

Location

Province NS

County Halifax

Area 2-Halifax South

Zoning ER-3

Region Halifax - Dartmouth

City Region Halifax - Dartmouth

Rooms

Basement Finished

Bedroom 2 $14, 363.46

Dining Room $174, 691.80

Kitchen $3, 208.67

Interior

Heating Baseboard, Hot Water, Radiator

Flooring Hardwood, Laminate, Vinyl

Inclusions Major Appliances.

Equipment Heat/Air Exchange, No Rental Equipment

Fireplace No

Appliance Stove, Dishwasher, Dryer - Electric, Washer, Refrigerator, Dryer

Laundry Laundry

Exterior

Community Features Park, Playground, Near Public Transport, Recreation Center, School Bus Service, Shopping, Place of Worship

Utilities Available Natural Gas Connected

View Y/N No

Roof Type Asphalt

Garage No

Private Pool No

Exclusions Tenant Possessions.

Building

Lot Description Under 0.5 Acres

Dwelling Type Apt Conforming

Story 2

Foundation Stone, Other

Sewer Municipal

Water Municipal

New Construction No

Schools

Elementary Schools Lemarchant - St Thomas Elementary School

Middle Schools Halifax Central Junior High School

High Schools Citadel High School

Others

Ownership Freehold

ParcelsYN No

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Philip Jonker

+1(902) 817-4708

Agent License ID: 1811911

1550-1554 Vernon Street St Halifax, NS B3H 3M7

Philip Jonker

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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