625 Herring Cove Road, 627 Herring Cove Road

Description

Renovated turnkey side-by-side duplex offering exceptional flexibility and upside. This extensively renovated, vacant, move-in-ready income property has been fully upgraded throughout. The opportunities are unmatched: subdivide/separate the units and sell each individually with all services already separated (electrical, water, sewer, etc., estimated at approximately $20K to complete; buyer to confirm subdivision and separation requirements with HRM), or hold as a strong income property previously generating approximately $2,800+ per unit with tenants paying all utilities (power and water), resulting in over $60K net annual income (including taxes and insurance) with an estimated 6.4% cap rate (buyer to verify financials and calculations), or house hack by living in one unit and renting the other. The property features two separate 200-amp panels (one per unit), all new electrical including plugs, lighting, thermostats, and hardwired smoke detectors, new efficient electric baseboards, all new plumbing, vinyl plank flooring throughout, new trim, closet doors, interior and exterior doors, renovated kitchens with new appliances and hardware, updated bathrooms, new stairs, new front and back porches, new windows from the main level down, and fresh paint throughout, creating a near brand-new duplex. Located just 15 minutes to downtown Halifax in a rapidly developing area with significant nearby growth and strong comparable sales supporting values of $550K+ per side, with peninsula properties exceeding $1M generating similar rents, this is a rare turnkey investment with multiple high-performing strategies in a prime location poised for appreciation. (id:56844)