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Home NS Amherst
53 Spring Street
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53 Spring Street $189,900
$189,900
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53 Spring Street
Amherst, Nova Scotia B4H1S3

MLS® Number: 202503032

Listing Description

This three-unit building in Amherst has a great rental history. Ideally situated within walking distance to schools at all levels and the amenities of downtown, this property offers convenience and accessibility. The building features two spacious one-bedroom units and a two-storey, two-bedroom unit. All units include heat and electricity in the rent. Unit A, the two-bedroom apartment, is accessed from the front of the building and offers a sun porch, a cozy living room, an eat-in kitchen, a full bath with laundry, and two generously sized bedrooms on the second level. Currently leased to a long-term tenant, Unit A brings in $892.50 per month. Unit B, a one-bedroom apartment on the second level, is located above the lower one-bedroom unit and is accessed from the side of the building. It includes a kitchen, a full bath, a spacious bedroom, and a living room. This unit currently rents for $840 per month. Unit C, a fully renovated one-bedroom apartment on the main level, is accessed from the driveway. It features a large eat-in kitchen with laundry, a full bath, a spacious bedroom, and a comfortable living room. This unit is currently rented for $1,400 per month. Recent updates to the building include a portion of the roof being re-shingled and an upgraded heating system. The property also includes a detached garage with a concrete floor and a nice backyard. This building is under contract with property management and has a net operating income (NOI) of approximately $21,596 and there is potential for increased rental income, particularly with two units currently renting below market value. This is an opportunity for investors seeking a solid rental property with future upside! (230424976)

Location Description

Corner of Spring and Academy. Beside Spring Street Academy.

Property Summary

Property Type
Multi-family
Building Type
Triplex
Community Name
Amherst
Title
Freehold
Land Size
0.1685 ac
Parking Type
Gravel
Time on REALTOR.ca
44 days

Price and Sale History

Date Status Price
Mar 7, 2024 Sale Closed $120,000

Building

Interior Features
Appliances Included
Stove, Refrigerator
Flooring
Hardwood, Linoleum
Basement Type
Full (Unfinished)
Building Features
Foundation Type
Stone
Utilities
Utility Sewer
Municipal sewage system
Water
Municipal water
Exterior Features
Exterior Finish
Vinyl
Neighbourhood Features
Community Features
Recreational Facilities
Amenities Nearby
Golf Course, Park, Playground, Shopping
Parking
Parking Type
Gravel
Data provided by: Nova Scotia Association of REALTORS® 112 - 68 Highfield Park Drive, Dartmouth, Nova Scotia B3A 0E4

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