INVESTOR ALERT – Rare value add opportunity in one of Halifax’s strongest rental corridors. This solid multi unit property includes three spacious two bedroom units plus an existing non legal one bedroom basement suite and offers investors a rare advantage of all units vacant at closing, allowing a buyer to immediately renovate, set market rents, and reposition the building to maximize returns from day one. Each upper unit is self contained with its own entrance, hardwood floors, updated windows, and private balconies that provide excellent natural light. The building is efficiently configured with four electrical panels and separate hot water heaters, with tenants paying their own electricity, helping keep operating costs low and management simple. Recent improvements include new siding and fresh paint in two units, reducing near term capital requirements while maintaining strong tenant appeal. Situated on a 50 x 145 ft lot with parking for at least five vehicles, the property offers excellent tenant convenience in a desirable rental location. For investors focused on maximizing value, there is strong upside through renovations and repositioning. Updating the units with modern kitchens and finishes, adding shared laundry, and exploring the opportunity to legalize and improve the existing basement suite (subject to municipal approval) could significantly increase income potential. Based on current market estimates, renovated two bedroom units could achieve approximately $2,000 per month plus utilities, with the one bedroom basement unit estimated around $1,500 per month, creating potential gross rental income of approximately $90,000 annually once stabilized. Ideally located minutes from the Armdale Rotary, Chocolate Lake, and major transit routes, this fully vacant property presents investors with a rare opportunity to renovate, increase rents, and unlock strong long term cash flow and long term equity growth in Halifax’s high demand rental market.
St. Margarets Bay Road Before the Rotary.
Listing Sub-Area:
8-Armdale/Purcell's Cove/Herring Cove
Property Type:
Multi-Family
Multi-Family Type:
Triplex
Title To Land:
Freehold
Building Dimenions:
32 x 28
Outside Dimenions:
32 x 28
Lot Size:
7,126 sq. ft.662 m2
Prop Size:
Under 0.5 Acres
# of Rental Units / Occupied:
1
Year built:
1953
(Age: 73)
Age:
73
# Floors:
3
Exterior Finish:
Vinyl
Foundation:
Concrete
Basement:
Fully Developed, Walkout
Floor Finish:
Ceramic, Hardwood, Linoleum
Roof:
Asphalt Shingle
Heating:
Baseboard
Fuel:
Electric
Parking Description:
5 Car Parking Pad
Driveway:
Parking Spaces(s)
Water Supply:
Municipal
Water And Sewage:
$2400 EST
Sewer:
Municipal
Num Units:
4
Num Bachelor Units:
0
Num 1 Bed Units:
1
Num 2 Bed Units:
3
Num 3 Bed Units:
0
Num 4 Bed Units:
0
# Of Dishwashers:
0
# Of Dryers:
1
# Of Fridges:
3
# Of Microwaves:
0
# Of Stoves:
4
# Of Washers:
1
Rental Income:
Yes, $72,000 EST (+4th Unit)
Other Income:
$18,000 EST (4th Unit)
Approx. Net Income:
$77,956.20 EST
Insurance Expense:
$3000 EST
Taxes Costs:
$3,643.80
Other Costs:
NA
Management expense:
NA
Snow / Garbage Collection:
NA
Heating Bill:
NA
Electricity Bill:
NA
Approx. Total Expense:
$12,043.80 EST
Approx. Total Income:
$90,000 EST
Apt Non-Conforming, Balcony, Cable, Telephone
3 Fridges, 4 Stoves, 1 Coin Washer, 1 Coin Dryer.
Park, Playground, Public Transit, Shopping, Place of Worship, Beach
Data was last updated June 15, 2026 at 09:20 PM (UTC)
Area Statistics
Listings on market:
118
Avg list price:
$866,250
Min list price:
$275,000
Max list price:
$6,600,000
Avg days on market:
49
Min days on market:
3
Max days on market:
602
These statistics are generated based on the current listing's property type
and located in
Halifax-Dartmouth. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
