140 Riverside Avenue Stewiacke, Nova Scotia B0N 2J0


Turn-key, multi-family residential opportunity. Super clean, 8-unit, 2-storey apartment in the heart of Stewiacke, 5 lots down from the Shubenacadie River. Wood & brick construction, w/ over $140,000 in recent renos done. 6 of the 8 units had extensive work and the other 2 units had minor updates. Several new windows installed in 2022. 6 units currently paying their own utilities. Units & building show very well. 7 spacious 2-bedroom units and 1 cozy 1-bedroom. Walking distance to all amenities - groceries, library, RCMP, community center, parks, 5-minute drive from NSLC and Hwy 102 - the perfect home for families and individuals alike. Property features a community laundry room, with appliances currently owned & maintained by a 3rd-party company. New owners have the option to continue the existing arrangement (coin machine revenue is split 50/50) or to simply install/manage your own machines. Property itself is fully managed by an excellent property management company who are happy to stay on if new owners so desire. All providing plenty of flexibility for a new owner to be as hands-on or as hands-off as they'd like. And speaking of flexibility, 5 of the units are currently on fixed-term leases, the longest of which expiring in April 2024. Ensuring immediate, consistent income while still leaving plenty of options for upside and any future changes new owners desire. These units remain in high demand. With multiple applicants any time a unit becomes available and exceptional rental history, there's no shortage of people looking to rent in this area. New developments nearby are an excellent indication of what's to come. Rents are currently very competitive with room for future growth. So don't miss out on this turn-key opportunity. Competitive cap, amazing location, an excellent property management company already in place if new owners desire, transition to ownership couldn't be easier. Call today! Gross: $110,006 Expenses: $37,467 NOI: $72,545 (id:52813)

Property Details

MLS® Number 202304394
Property Type Multi-family
Community Name Stewiacke
Amenities Near By Park, Shopping
Community Features Recreational Facilities


Age 38 Years
Appliances Stove, Refrigerator
Flooring Type Ceramic Tile
Foundation Type Concrete Perimeter
Type Apartment
Utility Water Municipal Water


Acreage No
Land Amenities Park, Shopping
Sewer Municipal Sewage System
Size Irregular 0.3104
Size Total 0.3104 Ac
Size Total Text 0.3104 Ac



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