Residential Income For Sale

$749,900

358-360 St Margarets Bay Road, Armdale, NS B3N 1J9

Description

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.

Property Details

  • Property Type: Residential Income
  • PropertySubType: Triplex
  • Listing Type: For Sale
  • Listing ID: 202527574
  • Price: $749,900
  • Bedrooms: 7
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1952
  • Lot Area: 7,126.42 Acre
  • Status: Active Under Contract
  • LivingAreaUnits : Square Feet

Features

  • Heating System : Baseboard
  • Basement : Finished, Walk-Out Access
  • Roof Deck : Asphalt
  • Sewer : Municipal
  • Interior Flooring : Ceramic Tile, Hardwood, Linoleum
  • Zoning: R-1 - RESIDENTIAL LOW DENSITY

Details

  • Office Name: Century 21 Optimum Realty
  • Agent Name: Keith Kenny
  • Garage: No
  • CommunityFeatures : Park, Playground, Shopping, Place Of Worship, Beach, Near Public Transport
  • ExteriorFeatures : Balcony
  • LotFeatures : Under 0.5 Acres
  • ParkingFeatures : Parking Spaces(s)
  • ElementarySchool: Springvale Elementary School
  • HighSchool: Citadel High School
  • MiddleOrJuniorSchool: St Agnes Junior High School
  • Appliances : Stove, Dryer, Washer, Refrigerator
  • Flooring: No
  • HeatingYN: Yes
  • PriceChangeTimestamp: 24/03/2026 00:00:00
  • StructureType : Apt Non-conforming
  • Utilities : Cable Connected, Electricity Connected, Phone Connected
  • Possession : Immediate Possible.
  • Stories: 3
  • ModificationTimestamp: 25/03/2026 11:21:05
  • MLSAreaMajor : 8-armdale/purcell's Cove/herring Cove
  • MLSAreaMinor : 8-a
  • FoundationDetails : Concrete Perimeter
  • FarmLandAreaUnits : Square Feet
  • ConstructionMaterials : Vinyl Siding
  • BuildingAreaUnits : Square Feet
  • BelowGradeFinishedAreaUnits : Square Feet

Property on Map

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Contact Agent
Colleen Ryan

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