7 School Avenue, Fairview, NS B3N 2E1
- $725,000
- 7
- BD
- List Price
- $725,000
- Status
- ACTIVE
- MLS#
- 202622616
- Bedrooms
- 7
- Lot Size (Acres)
- 0.1403
- Style
- Apt Non-Conforming
- Year Built
- 1967
Property Description
Excellent investment opportunity in a highly convenient Fairview location! This well-maintained property is configured for three units but is currently being rented as two, offering an investor an exciting opportunity to maximize the income potential with minimal changes needed to convert to three legal units. Two excellent tenants are currently in place, and both would love the opportunity to stay. The upper level features a spacious 3-bedroom unit currently rented for $1,730/month, while the middle level offers another 3-bedroom unit and the lower level features a 1-bedroom unit. The middle and lower units are currently rented together for $3,000/month, bringing the current total rental income to $4,730/month. With the property currently operating as two rental units and rents offering room for growth, there is significant upside for an investor looking to increase future rental income. All units are in great condition, with separate entrances and multiple paved parking spaces. Heating is provided by electric baseboards and ductless heat pumps, with tenants paying their own heat and electricity. The property has seen approximately $70,000 in upgrades since 2022, including a brand-new multi-level deck, updated flooring in the lower unit, new appliances, and numerous other improvements. Outside, enjoy a beautiful level backyard with plenty of usable space and a convenient shed for additional storage. Located close to shopping, schools, restaurants, public transit, parks and everyday amenities, with easy access to both Halifax and Dartmouth, this is an ideal opportunity for investors seeking strong existing income, quality tenants, excellent condition and substantial future rental upside. With the building already configured for three units and only minimal changes anticipated to transition to three legal units, this property offers an excellent opportunity to unlock even greater income potential.
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Additional Information
- Area
- Halifax - Dartmouth
- Foundation
- Concrete Perimeter
- Community Features
- Park, Playground, Near Public Transport, Recreation Center, School Bus Service, Shopping, Place of Worship
- Features
- Secondary Suite
- Basement
- Finished
- Appliances
- Stove, Dishwasher, Dryer, Washer, Refrigerator
- Flooring
- Laminate, Tile
- Exterior Finish
- Brick, Vinyl Siding
- Parking Features
- Paved
- Roof
- Asphalt
- Utilities
- Electricity Connected
- Water Source
- Municipal
- Sewer
- Municipal
- Elementary School
- Burton Ettinger Elementary School
- Middle School
- Fairview Junior High School
- High School
- Halifax West High School
- Appliances
- Stove, Dishwasher, Dryer, Washer, Refrigerator
- Zoning
- R-2 - RESIDENTIAL MEDIUM DENISTY
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Listing courtesy of Exit Realty Metro.