1550-1554 Vernon Street Street, Halifax, NS (MLS® 202624982): A standout opportunity on Vernon Street, just steps from Coburg Road and Dalhousie University. Under the same ownership since 2004, this well-maintained triplex combines strong existing income, zero vacancy and a proven rental history in one of Halifax’s highest-demand rental locations. Comprising three civic addresses—1550, 1552 and 1554 Vernon Street—the property generates $174,692 in gross annual rental income, or $14,558 monthly. With annual operating expenses of approximately $29,275, NOI is $145,417, representing an attractive 7.0% cap rate. Units are separately metered for electricity, which is paid by the tenants; heat and hot water are included in the rents. Current leases are in place, providing income from day one. Significant capital improvements include a new roof and skylights (2022), new natural gas boiler (2022), replacement of wood windows with vinyl, upgraded electrical and most plumbing, and new front and rear steps (2026). Three on-site parking spaces are an added advantage in this highly walkable university neighbourhood. With established income, substantial upgrades already completed and an exceptional location within steps of Dalhousie, this is a rare opportunity to acquire a proven rental property in the heart of Halifax’s university district.

Directions

From Robie Street, turn onto Coburg Road, then turn onto Vernon Street. Property is located at 1550–1554 Vernon Street.

Inclusions

Major appliances.

Exclusions

Tenant possessions.

Listing Courtesy of: Royal LePage Atlantic