540 Main Street

Description

Income property and equity-building opportunity in picturesque Lawrencetown: a beautifully maintained two-storey century home thoughtfully converted to a seven-unit residential suite home with furnished, move-in-ready accommodations for mature tenants on fixed-term leases. With approximately $65,700 gross potential annual income and a stable, professionally managed tenant base drawn from nearby College of Geographic Sciences and the local mature community, this property offers the rare advantage of letting others pay your mortgage while you build equity and create meaningful housing solutions in Nova Scotia. The home features five bathrooms (three are ensuites), all units sharing a common kitchen facility, and recently upgraded infrastructure that speaks to quality and longevity: roof (2025), fresh exterior paint and siding, 200-amp electrical panel, and water heaters (2024). Full municipal water and sewer. A ground-level eighth suite could very easily be created if desired, offering upside potential for income expansion. The exceptional 0.31-acre riverfront lot borders the serene Annapolis River with a peaceful sitting area overlooking the water-a rare amenity in multi-unit investments and a valued retreat for tenants and owners alike. The building's solid construction and excellent overall condition mean it could easily revert to single-family use, adapt to alternative income models, or serve multiple families sharing expenses-depending entirely on your vision. WETT-certified wood stove insert provides supplemental heating. All appliances and nearly all furnishings remain with the property, ensuring ease of consistent occupancy and turnover. Whether you are seeking to enter the income property market, expand an existing portfolio, or address the housing demands facing the Valley, this property delivers reliable returns, professional operations, and the satisfaction of providing quality housing to those in genuine need of stable accommodation. A rare find! (id:56844)

Listing

MLS® number

202615296

Status

Active

Days On Market

131

Building

Type

House

Year built

1907

Storeys

2

Living area

2,592 sq ft

Above grade

2,592 sq ft

Bedrooms above grade

6

Foundation

Stone

Basement

Unfinished, Full, Walk out

Interior

Flooring

Tile, Hardwood, Laminate, Wood

Heating

Heat Pump, Baseboard heaters, Forced air, Oil, Electric, Ductless

Cooling

Air Conditioned

Appliances

Refrigerator, Dishwasher, Stove

Accessibility

5ft min Kitchen Turning Radius, 32in min Entry Doorways, 32in min Hallways

Land

Lot size

0.31 acres

Lot features

Treed, Walk-In Closet

View

River view

Waterfront

Waterfront on river

Exterior features

Vinyl, Wood siding

Community

School Bus, Recreational Facilities

Parking

Type

Parking Space(s), Gravel

Utilities

Water

Municipal water

Sewer

Municipal sewage system

Fees and taxes

Common interest

Freehold

Parcel number

05126529

Rooms

Directions

Main Street (Highway 1) Lawrencetown