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Apartment Building For Sale at 5639 Morris Street in Halifax, Nova Scotia

4 Sale ID #241868
Updated 15 Mar 2025

Asking Price

$1,349,900

Cap Rate help The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.

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Lot Size

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Building Size

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Premise Summary

Introducing a fantastic income property opportunity located in the heart of the Halifax Peninsula. This fourplex is situated in a highly sought-after location, close to the university, hospital, and a supermarket, making it an ideal choice for tenants seeking convenience and accessibility. The property consists of four well-maintained units, with three one-bedroom apartments and one spacious three-bedroom unit. Each unit is designed to offer comfortable living spaces and is fully rented all year round, ensuring a steady and reliable stream of income for the owner. The three one-bedroom units are perfect for students, young professionals, or couples looking for a cozy and affordable place to call home. These units feature open-concept layouts, modern kitchens equipped with essential appliances, comfortable bedrooms, and well-appointed bathrooms. Each unit also includes ample storage space and large windows that fill the rooms with natural light. The highlight of this fourplex is the three-bedroom unit, which offers a spacious and inviting living environment. With its generous square footage, this unit is ideal for families or professionals seeking more space. The unit features a fully equipped kitchen with modern appliances, a comfortable living room, three well-sized bedrooms, and two bathrooms. It provides an excellent opportunity for higher rental income due to its size and desirability. The location of this income property is truly unbeatable. Situated in the heart of the Halifax Peninsula, tenants will enjoy the convenience of living within walking distance of the university, hospital, and a well-stocked supermarket. The area is also surrounded by a variety of amenities, including restaurants, cafes, parks, and shops, ensuring tenants have everything they need within easy reach. Investing in this fully rented fourplex not only provides immediate cash flow but also promises excellent long-term potential. (id:39198)

  • MLS® : #202411340
  • Date Listed : 23 May 2024

Location

Province

Nova Scotia

City

Halifax

Address

5639 Morris Street

Postal Code

B3J1C4

Location Highlights

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Listed by

RE/MAX Nova Nova Scotia listing

Category

apartment-buildings

Property Information

Premise Status

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With Accommodation

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Tenancy

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Lot Size

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Available Space

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Building Size

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Year Built

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Years Remaining in Current Lease Term

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Renewal Options

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Operational Information

Number of Working Owners

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Current Owner - years

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FF & E help Furniture, Fixtures & Equipment that remain with the business.

Not Included

Inventory Value - approximate help Consumable items the restaurant sells or uses such as food, beverages, cleaning supplies, etc.

Not Included

Franchise

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Financial Information

Yearly Rate

$1,349,900

Asking Price

$1,349,900

Cap Rate help The capitalization rate is the rate of return on a real estate investment property based on the income that the property is expected to generate.

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NOI help Net Operating Income equals all revenue from the property, minus all reasonably necessary operating expenses.

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Gross Revenue- annual

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Cash Flow - annual help 1 Take your “Net Income before Taxes”, then,
2 Add up all payments to: owners + interest + allowances for asset depreciation.
3 ADD together 1 + 2 = CASH FLOW (aka Seller’s Discretionary Earnings)

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EBITDA help Earnings Before Interest, Taxes, Depreciation, Amortization.

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Premises Size (square feet)

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Other Information

Owner willing to Finance

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Absentee Owner

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Support and Training

Not Included

Growth and Expansion

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Market Competition

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