(902) 489-4763
Multi Family

1023 Bland Street, Halifax, NS (MLS® 202219667).

1023 Bland Street, Halifax, NS (MLS® 202219667): Check out this possible development opportunity, close to universities, hospitals and downtown. Currently the property consists of 5 character-filled one bedroom units, never a vacancy due to its amazing location. There might be the possibility to increase revenue and building value (BRRR) by converting unit 3 to a two bedroom (stamped engineer beam has been designed) buyer to confirm. It also may be possible to convert the main floor into two studio/bachelor units under a heritage development agreement (buyer to confirm) for a total of 6 units, as per other similar buildings on the street. It may be possible to convert the walk-out garden level unit to 2 bedrooms too if a concrete well was dug in the front of the building like a similar building across the street (buyer to confirm). As the building is currently configured there are fixed term leases in place until December 31st, 2022 as follows: Unit 1 (1700) dog friendly with direct backyard access, unit 2 (1600), unit 3 (1600) unit 4 (1375) and unit 5 (1375). Heating and hotwater is electric all on separate meters (tenants pay). As a middle row house heating costs for tenants are reasonable and sprayfoam was added in 2020 and blown in cellulose insulation in 2021. All 5 hot water tanks are newer. Electrical upgrade (2012 & 2021) and new roof (2009) and 4 new exterior doors (2021). There is an LG Prestige heat pump in unit 1 and wires are in place for heat pumps in unit 4 & 5. Projected rent after potential conversion (buyer to confirm): bachelor/studio (2 x $1250) junior one bedroom (2 x $1375) and two bedroom ($2000) and dog friendly 2 bedroom ($2100). It may be possible to assume sellers mortgage at 2.94% until February 2025. *** FOR MORE INFORMATION PLEASE VISIT REALTOR WEBSITE ***

Directions
Hollis Street to Bland Street

Inclusions
Appliances “as-is / where-is” condition

Exclusions
Tenants Chattels

Listing Courtesy of: INNOVATIVE REAL ESTATE LTD - A507

$1,215,000
MLS®
202219667
PID
00102517
List Price
$1,215,000
Type
5-8 Units
Sewer
Municipal
Foundation
Concrete, Stone
Exterior
Wood Siding
Flooring
Hardwood, Softwood, Vinyl Plank
Water
Municipal

contact the agent.

Candice Blaney
(902) 489-4763
cblaney@remaxnova.ca

Candice has been a licensed REALTOR® since 2009. Candice's knowledge allows her to offer superior guidance, advice and service through the delicate p…

Candice Blaney.

REALTOR ®
RE/MAX nova
(902) 489-4763
cblaney@remaxnova.ca