817 Tower Road|5791 Harrington Dr

Nothing else like it on the market! Immediately adjacent to Saint Marys University, 817 Tower Road/5791 Harrington Drive is a legal triplex offering established income and exceptional upside in one of Halifaxs strongest rental locations. Spanning approximately 4,000 sq. ft., the property is configured as three self-contained apartments, one on each level, with ten bedrooms currently rented under three fixed-term leases. Significant renovations completed over the past eight years include fire separation, extensive electrical upgrades with new meters and panels, a newer natural-gas heating system, three bathrooms, two kitchens, approximately 80% replacement windows and additional improvements. Current rents are believed to be below market, while the building offers the potential to accommodate up to 14 individually rented bedrooms under a shared-housing model, potentially increasing gross rental income by approximately 46%. The upper apartment includes four rented bedrooms, two full bathrooms and two existing loft rooms, with water and sewer roughed in for a potential additional bathroom. The main-floor apartment contains three bedrooms and generous living space that could potentially be reconfigured to create two additional rooms. The walkout ground-level apartment includes three bedrooms and its own living and kitchen areas. Additional highlights include coin-operated laundry, separate electrical meters, parking for four vehicles and a registered right-of-way from Harrington Street. Walk to universities, hospitals, downtown, transit, restaurants, cafés, shopping and everyday amenities, with Point Pleasant Park only minutes away. Shared-housing potential, projected income and alterations are estimates only and subject to purchaser verification and all required approvals, permits and other requirements. Detailed financials, floor plans and other property information are available through the listing agent. Access for viewings is from 817 Tower Road only. (id:67197)

Price

$1,650,000

Property Type

Multi-family

Transaction Type

For sale

MLS® Number

202623152

Year Built

1935

Ownership Type

Freehold

Building Type

Triplex

Exterior Finish

Wood shingles

Fireplace

No

Foundation

Concrete Perimeter

Heating Fuel

Electric, Natural gas

Heating

Baseboard heaters, Hot Water, Radiator

Water

Municipal water

Year Built

1935

Size Total

0.141 ac

Acreage

No

Sewer

Municipal sewage system

Amenities Nearby

Park, Playground, Public Transit, Shopping, Place of Worship

• Park
• Playground
• Public Transit
• Shopping
• Place of Worship

Ownership Type

Freehold