358-360 St Margarets Bay Road

Description

Presenting an exceptional investment opportunity in a high-demand rental area, featuring a solid, well-maintained triplex with three spacious two-bedroom units and a non-legal one-bedroom basement suite. Each upper unit is fully self-contained with its own entrance, hardwood floors, updated windows, and private balconies that bring in natural light, while the basement unit offers a walk-out patio and access to the shared coin-operated laundry area for additional income. The property is separately metered with four electrical panels, and each unit has its own hot water heater, with tenants paying their own heat and power. The owner’s responsibilities are limited to maintenance, water, and taxes, making this a low-effort, high-yield investment. Recent upgrades include new siding and fresh paint in two units, enhancing appeal and reducing future upkeep. The lot measures 50 x 145 feet and provides parking for at least five vehicles. Three units will be vacant for closing, offering flexibility to set market rents or renovate, while the fourth unit is under a fixed-term lease at $1,675/month plus utilities until June 2026. The basement unit, which shares power with the laundry and exterior lighting, requires some work, but with sweat equity and a potential application to the city, it could become a significant income booster. Estimated rent for each unit is $1,850+ per month, giving the property excellent upside potential. Located minutes from the Armdale Rotary, 2 blocks from the public dock at Chocolate Lake and along major transit routes, this income property combines strong cash flow potential with long-term appreciation in one of Halifax’s most desirable rental corridors.