7 School Avenue, Fairview

About this property

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, 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 while the upstairs unit is being rented separately, bringing the 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. Transitioning the property into three legal units is dependent on applicable municipal approvals and/or permits - Buyer to inquire. (id:66939)