For Sale · Multifamily

5761-5763 Atlantic Street, Halifax

5761-5763 Atlantic Street, Halifax, NS B3H1H1

$1.5M total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA9 — High Rise

$ / SF

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Occupancy

88%

Lot Size

0.1314 ac

About this property

Located in the heart of downtown's coveted South End, this two-unit property offers an ideal blend of investment income and owner-occupier flexibility, close to Saint Mary's University, the Halifax Grammar School, Inglis Street Elementary, Point Pleasant Park, and the many amenities of the South End. The upper unit features 4 bedrooms and 2 bathrooms which is currently rented, with tenants paying their own utilities, immediate income for the new owner. The lower unit offers 2 bedrooms and 1 bathroom and has been deliberately left vacant by the seller, giving the buyer the freedom to move in as an owner-occupier or to renovate and reimagine the space to suit their own vision. Each unit has its own heating system, seperate electrical meter and seperate laundry,so tenants can pay their own utilities. The backyard offers parking for 4 cars. ER-3 Zoning offers buyers even more potential for the future. Whether you are an investor seeking a strong South End holding or a buyer looking to live in one unit while the other helps carry the mortgage, this property delivers location, income, and flexibility in one of Halifax's most sought-after neighbourhoods. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$44K

Annual cash flow

$-39K

Cash-on-cash

-8.73%

DSCR

0.53

Going-in cap

2.92%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

60,063

Households

25,923

Median income

$97,500

Median age

42.1

Daytime population

55,177

5-yr growth

6.6%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 5761-5763 Atlantic Street, Halifax.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.