1023 Bland Street, Halifax, NS (MLS® 202219667)

For Sale
 Multi-Family
5-8 Units
Aug. 11, 2022
Social Sharing
REALTOR®
Keith Kenny

Keith Kenny

Real Estate Agent
 (902) 817-8178 
 (902) 700-5950 

Overview

Listing Type:
 Multi-Family
Property Type:
5-8 Units
Listing Price:
$1,215,000
MLS® #:
202219667
PID #:
00102517
Water:
Municipal
Sewer:
Municipal

Address

Street Address:
1023 Bland Street
City:
Halifax
Province:
NS
Postal Code:
B3H 2S8
Country:
Canada

Description

1023 Bland Street, Halifax, NS (MLS® 202219667): Check out this possible development opportunity, close to universities, hospitals and downtown. Currently the property consists of 5 character-filled one bedroom units, never a vacancy due to its amazing location. There might be the possibility to increase revenue and building value (BRRR) by converting unit 3 to a two bedroom (stamped engineer beam has been designed) buyer to confirm. It also may be possible to convert the main floor into two studio/bachelor units under a heritage development agreement (buyer to confirm) for a total of 6 units, as per other similar buildings on the street. It may be possible to convert the walk-out garden level unit to 2 bedrooms too if a concrete well was dug in the front of the building like a similar building across the street (buyer to confirm). As the building is currently configured there are fixed term leases in place until December 31st, 2022 as follows: Unit 1 (1700) dog friendly with direct backyard access, unit 2 (1600), unit 3 (1600) unit 4 (1375) and unit 5 (1375). Heating and hotwater is electric all on separate meters (tenants pay). As a middle row house heating costs for tenants are reasonable and sprayfoam was added in 2020 and blown in cellulose insulation in 2021. All 5 hot water tanks are newer. Electrical upgrade (2012 & 2021) and new roof (2009) and 4 new exterior doors (2021). There is an LG Prestige heat pump in unit 1 and wires are in place for heat pumps in unit 4 & 5. Projected rent after potential conversion (buyer to confirm): bachelor/studio (2 x $1250) junior one bedroom (2 x $1375) and two bedroom ($2000) and dog friendly 2 bedroom ($2100). It may be possible to assume sellers mortgage at 2.94% until February 2025. *** FOR MORE INFORMATION PLEASE VISIT REALTOR WEBSITE ***

Directions to 1023 Bland Street, Halifax, NS (MLS® 202219667): Hollis Street to Bland Street

 Inclusions & Exclusions

Inclusions: Appliances “as-is / where-is” condition

Exclusions: Tenants Chattels

Building Details

Foundation Type:
Concrete, Stone
Roof Material:
Other
Exterior Finish:
Wood Siding
Flooring Type:
Hardwood, Softwood, Vinyl Plank
Basement Features:
Full, Fully Developed

Land Details

Title To Land:
Freehold

 Virtual Tours of 1023 Bland Street, Halifax, NS (MLS® 202219667)

Demographics for 1023 Bland Street, Halifax, NS (MLS® 202219667)

 Dissemination Area 12090864 (Census Year: 2016)
Dissemination Area ID: 12090864
Census Year: 2016
Subdivision Name: Halifax
Population Count: 604
Private Dwellings Count: 389
Land Area: 0.04 Km2

Demographics Synopsis: 1023 Bland Street, Halifax, NS (MLS® 202219667) is located in Dissemination Area 12090864 that spans over 0.04 Km2 and has 389 private dwellings that are home for 604 people. This represents a population density of 15487.2 persons per Km2. The Majority of dwellings in the area are occupied by tenants. The average age of the population in the area is 35.2 years old.

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(902) 817-8178