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1518 Dresden Row in Halifax: 2-Halifax South Multi-Family for sale (Halifax-Dartmouth) : MLS®# 201827033

1518 Dresden Row Halifax B3J 2K2 : 2-Halifax South

Main Photo: 1518 Dresden Row in Halifax: 2-Halifax South Multi-Family for sale (Halifax-Dartmouth)  : MLS®# 201827033
$1,800,000
Prop. Type:
Multi-Family
MLS® Num:
201827033
Status:
Active
Year Built:
1900
This is a rare opportunity to be part of the modernization and gentrification of our beautiful city. This property, located in the bustling Spring Garden district, is both ideally situated to expand and develop, but also to reap rewards in doing so. Located directly across from Pete's Froutique on Dresden Row, close to many new developments and boasting a large city lot, the possibilities are literally endless. Either assume the ownership and continue to earn good income from the Chinese Restaurant (long term tenant), couple with two residential units currently rented out in short term rentals, or take the plunge and put on your developer's hat and make your mark in the middle of the most recently Halifax Boom! With the zoning and the size of the lot you could build 10 storey's by right, or apply to the city for extra floors with the addition of further green space and other amenities. There's a large fork in the road - you take the plunge and start construction, or be part of preserving one of downtown Halifax's few remaining 19th century properties. Move quick, this one won't last long.
Sackville Street to Dresden Row to civic address
Listing Sub-Area:
2-Halifax South
Property Type:
Multi-Family
Multi-Family Type:
Triplex
Title To Land:
Freehold
Lot Details:
3237 sq ft
Prop Size:
Under 0.5 Acres
Commercial / Retail Space:
Yes
# of Rental Units / Occupied:
2
Year built:
1900 (Age: 118)
Exterior Finish:
Wood Siding
Foundation:
Concrete, Stone
Basement:
Full, Walkout, Fully Developed
Floor Finish:
Ceramic, Hardwood, Softwood
Roof:
Asphalt Shingle
Heating:
Hot Water, Radiant
Fuel:
Oil
Driveway:
Paved, Single
Water Supply:
Municipal
Water And Sewage:
1,500/year
Sewer:
Municipal
Num Units:
3
Num 1 Bed Units:
2
# Of Fridges:
2
# Of Stoves:
2
Rental Income:
120,000
Approx. Net Income:
80,000
Insurance Expense:
3,500/year
Taxes Costs:
29,000/year
Heating Bill:
6,000/year
Approx. Total Income:
120,000
Balcony, Cable, Family Room, Fireplace(s), Laundry, Power, Secondary Suite, Storage, Telephone
Park, Shopping, Playground, Public Transit, Recreation Center, School Bus Service
Stove, Refrigerator
None
Deck, Patio
No
Zoning:
DH-1
Possession Info:
Negotiable
Listed Date:
Nov 13, 2018
Days on Mkt:
29
Listing information last updated on November 18, 2018 at 07:23 PM (UTC)
Andrew Murray
Angela  Leaman