For Sale · Multifamily

77 Convoy Avenue, 77.5 Convoy Avenue, Fairview

77 Convoy Avenue, 77.5 Convoy Avenue, Fairview, NS B3N2P9

$725,000 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

92%

Year Built

1967

Lot Size

0.1396 ac

About this property

Two Units. One Incredible Opportunity. Welcome to 77 & 77.5 Convoy Avenue! Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the other, this legal duplex offers flexibility, functionality, and excellent income potential in an established Halifax neighbourhood. Offering a total of five bedrooms and three full bathrooms, both units feature separate entrances, individual electrical meters, dedicated heat pumps, their own laundry facilities, and separate driveways. Thanks to the property's natural topography, a hillside creates two distinct levels, allowing each unit to enjoy its own private backyard and outdoor space. 77 Convoy Avenue offers a spacious three-bedroom layout with two full bathrooms, a lower-level den, and a private balcony. Additional highlights include new laundry appliances and a detached, insulated garage complete with electricity and workshop space. Currently included in the upper unit's rent, the garage is a valuable feature that could warrant additional rental income. 77.5 Convoy Avenue features two bedrooms and one full bathroom, with numerous recent updates throughout. Enjoy updated flooring, a refreshed kitchen with updated cabinetry, new countertops and sink, and an updated bathroom featuring a new vanity, mirror, lighting, and flooring. New lighting in the bedrooms and hallway, new laundry appliances, a private backyard, and a storage shed complete this inviting space. Currently generating $4,000 per month in rental income, with fixed-term leases in place until February and March 2027, this property presents an excellent opportunity for investors seeking immediate income or buyers planning for future owner occupancy. With separate utilities, ample parking, thoughtful updates, two distinct outdoor spaces, and the added versatility of an internal connection between the units, 77 & 77.5 Convoy Avenue offers plenty of possibilities for homeowners and investors alike. (id:66811)

Financial sandbox

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Estimate
Purchase price$725K
Down payment30% · $218K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$33K

Annual cash flow

$-7K

Cash-on-cash

-3.39%

DSCR

0.82

Going-in cap

4.52%

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

141,782

Households

60,384

Median income

$93,500

Median age

44.3

Daytime population

216,561

5-yr growth

6.7%

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

Secure deal room

Confidential diligence documents for 77 Convoy Avenue, 77.5 Convoy Avenue, Fairview.

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.