1672/1676 Chestnut Street

Description

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:56844)

Listing

MLS® number

202612606

Status

Active

Days On Market

155

Building

Type

Duplex

Year built

1922

Foundation

Block

Basement

Finished, Full, Walk out

Interior

Flooring

Hardwood, Laminate

Heating

Oil, Furnace

Appliances

Washer, Refrigerator, Stove, Dryer

Land

Exterior features

Wood shingles

Community

School Bus, Recreational Facilities

Parking

Type

Paved Yard

Utilities

Water

Municipal water

Sewer

Municipal sewage system

Fees and taxes

Common interest

Freehold

Parcel number

00048934

Directions

Robie Street to Jubilee Road to Chestnut Street