525 Main Street

Description

Welcome to an exceptional income-generating opportunity in picturesque Lawrencetown, situated in the heart of Nova Scotia's vibrant Annapolis Valley. It is rare to find a multi-family property that cash flows this well, boasting a total gross yearly income of $55,200 against low operating expenses of $11,664, which delivers a fantastic Net Operating Income of $43,536. There are 4 separate meters at the property and each tenant pays for their own electricity. The heat source at the building is electric with a mix of ductless heat pumps for efficient winter heat and summertime cooling, convection heaters and electric baseboards. Meticulously maintained and having undergone extensive updates and renovations, this turnkey fourplex features a versatile unit mix consisting of one 3-bedroom unit, two 2-bedroom units, and one 1-bedroom unit. Two units have been beautifully refreshed and are completely move-in ready, intentionally kept vacant to allow a new owner the immediate opportunity to set market rents and place their own ideal tenants. Location is everything, and this building backs onto the scenic Rail Trail while sitting just a short walk from the Bees Knees General Store & Bakery Cafe and NSCC's Centre of Geographic Sciences (COGS). As Canada's largest geomatics-focused learning environment, COGS attracts students from around the globe to study land and ocean floor surveying and mapping, providing a steady stream of mature, reliable tenants alongside the local community. Positioned a convenient ten minutes in either direction from Middleton and Bridgetown for all everyday amenities, this investment allows you to let others pay your mortgage while you build valuable equity and provide quality housing solutions in Nova Scotia. Whether you are expanding an established portfolio or purchasing your first income property, this listing offers bulletproof cash flow, strategic positioning, and outstanding long-term value. Don't miss it! (id:56844)

Listing

MLS® number

202620033

Status

Active

Days On Market

85

Building

Type

Fourplex

Year built

1910

Foundation

Stone, Concrete Perimeter

Basement

Unfinished, Full

Interior

Flooring

Hardwood, Laminate, Ceramic Tile, Linoleum

Heating

Heat Pump, Baseboard heaters, Electric, Ductless

Appliances

Washer, Refrigerator, Gas stove(s), Dryer

Land

Lot size

0.31 acres

Exterior features

Vinyl

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

05125307

Directions

Take Main Street (Highway 1) through Lawrencetown to civic #525. Watch for Kevin Scott Real Estate Team / Royal LePage Atlantic for sale sign.