Introducing 1672/1676 Chestnut Street a well-maintained duplex in the heart of Halifax, ideally located on a quiet street just steps from both Dalhousie University and University of King's College. This large century home offers an exceptional investment opportunity with strong income potential and future development upside. Currently 100% occupied and consistently easy to rent, the property generates over $137,000 in annual income and operates at an impressive 7% cap rate after expenses. The home features two spacious flats one 4-bedroom unit and one 5-bedroom unit making it highly attractive for student housing or long-term tenants alike. The property also offers additional upside with a partially finished walk-out basement and zoning that permits up to a fourplex configuration. The basement features excellent ceiling height and direct walk-out access, offering strong potential for future unit development or additional living space. Over the past 10 years, numerous upgrades have been completed, including an efficient boiler with Riello oil burner, 90% efficient hot water heating, some vinyl windows, blown-in insulation (2012), a new south-side roof (2013), and newer appliances throughout. Front paving stone landscaping was added in 2012 to allow for parking and reduced exterior maintenance. Situated close to all amenities, this property is within walking distance to hospitals, libraries, shopping, restaurants, museums, and everything Halifax has to offer. A rare opportunity to own a high-performing investment property in one of Halifaxs most desirable rental locations. (id:4069)
Address
1672/1676 Chestnut Street
List Price
$1,399,900
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Nova Scotia
Sub-Area
Halifax
Year Built
1922
MLS® Number
202612606
Listing Brokerage
RE/MAX Nova (Halifax)
Basement Area
Full (Finished)
Postal Code
B3H3T4
Ownership
Freehold
Site Influences
Park, Playground, Shopping, Place of Worship
Community Features
Recreational Facilities, School Bus
Appliances
Stove, Dryer, Washer, Refrigerator
Heat Source
Oil
Heat Type
Furnace
Foundation Details
Block
Water Source
Municipal water
Sewer
Municipal sewage system
