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For Sale · Multifamily

1095 Lucknow Street, 1097-1101 Lucknow Street, Halifax

1095 Lucknow Street, 1097-1101 Lucknow Street, Halifax, NS B3H2T7

$9.6M total

—

Asset Class

Multifamily

Size

—

Building class

C

Zoning

RA8 — Medium Rise

$ / SF

—

Occupancy

87%

Year Built

1990

Lot Size

0.3685 ac

About this property

Two side-by-side multi-unit buildings, 26 units in total, offered together on Lucknow Street. The 14-unit building (1097-1101 Lucknow St) was originally a single-family home with a brand new 12 unit addition at the rear. Units in this new building feature modern, high-end finishes, heat pumps, and 5 appliances, including an in-suite washer and dryer. Tenants pay all utilities except for water. The adjacent 12-unit building (1095 Lucknow St) is attractively renovated with modern kitchens and bathrooms. All units have access to a coin operated washer and dryer in the basement. Tenants pay power only, with the landlord covering the natural gas heat and hot water. Across both buildings, all units except two in the 14-unit building are two-level layouts, in a mix of one and two bedrooms. Every unit has its own private exterior entrance, and parking is located between the two buildings (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$9.57M
Down payment30% · $2.87M
Interest rate6.25%
Amortization25 years
Occupancy87%
Expense growth2.5%

Monthly debt service

$44K

Projected NOI

$275K

Annual cash flow

$-255K

Cash-on-cash

-8.89%

DSCR

0.52

Going-in cap

2.87%

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

57,447

Households

23,017

Median income

$83,500

Median age

46

Daytime population

56,353

5-yr growth

8.1%

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

Secure deal room

Confidential diligence documents for 1095 Lucknow Street, 1097-1101 Lucknow 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.