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140 Riverside Avenue
104-Truro / Bible Hill Stewiacke B0N 2J0

$1,250,000
Multi-Family built: 39

Main Photo: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 1: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 2: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 3: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 4: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 5: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 6: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 7: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 8: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 9: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 10: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 11: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 12: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 13: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 14: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 15: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 16: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Photo 17: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
202406209
Year Built:
39
Turn-key, multi-family residential opportunity in booming Stewiacke. Super clean, 8-unit, 2-storey apartment in the heart of town. Over $140,000 in recent renos done. 6 of the 8 units had extensive work and the other 2 units had minor updates. Several new windows installed in 2022. All units currently paying their own utilities. 7 spacious 2-bedrooms and 1 cozy 1-bedroom. Walking distance to all amenities - groceries, library, RCMP, community center, parks, 5-mins from NSLC and Hwy 102. With unprecedented growth in the area, much like Enfield, Elmsdale's recent transformation, Stewiacke is likely to be unrecognizable in a few years; own a turn-key investment property in the centre of town. 45 mins from Halifax, 20 mins from Truro, Stewiacke is the perfect bedroom community to both. New developments nearby and the province's overall stratospheric growth are all an excellent indication of what's to come. Property features community laundry room, with appliances currently owned/maintained by 3rd-party company. New owners have option to continue existing arrangement (coin machine revenue is split 50/50) or to install/manage your own machines, further increasing income. Property itself is fully managed by an excellent property management company who are happy to stay on if new owners so desire. All providing plenty of flexibility for a new owner to be as hands-on or as hands-off as they'd like. 4 of the units are currently on fixed-term leases. With multiple applicants any time a unit becomes available and exceptional rental history, there's no shortage of people looking to rent in this area. Rents are currently very competitive with ample room for future growth. Immediate, consistent income with opportunity for future upside. Competitive cap, amazing location, an excellent property management company already in place if new owners desire, transition to ownership couldn't be easier. Call today! Gross: $118,248 (rent and laundry) Expenses: $42,430 NOI: $75,818
Listing Sub-Area:
104-Truro / Bible Hill
Property Type:
Multi-Family
Multi-Family Type:
5 - 8 Unit
Title To Land:
Freehold
Building Dimenions:
78.9' x 42.6'
Lot Size:
13,521.024 sq. ft.
Prop Size:
Under 0.5 Acres
Commercial / Retail Space:
No
# of Rental Units / Occupied:
8
Year built:
39 (Age: 1,985)
Age:
1985
Foundation:
Concrete
Basement:
Fully Developed
Floor Finish:
Ceramic, Vinyl Plank
Roof:
Asphalt Shingle
Heating:
Baseboard
Fuel:
Electric
Parking:
Yes
Parking Description:
Paved private parking lot, recently repaired
Driveway:
Paved
Water Supply:
Municipal
Water And Sewage:
4066.94
Sewer:
Municipal
Num Units:
8
# Of Fridges:
8
# Of Stoves:
8
Rental Income:
116840
Laundry Income:
1380
Approx. Net Income:
75790
Insurance Expense:
6827
Taxes Costs:
12019
Maintenace:
2400.0
Management expense:
10749
Snow / Garbage Collection:
2360(garbage) 1819(grass/snow)
Heating Bill:
2189 (heat and electricity)
Approx. Total Expense:
42430
Approx. Total Income:
118220
Park, Recreation Center, Shopping
Stove, Refrigerator
None
No
Zoning:
R3A
Possession Info:
Negotiable
Listed Date:
Days on Mkt:
  • Photo 1: 140 Riverside Avenue in Stewiacke: 104-Truro / Bible Hill Multi-Family for sale (Northern Region)  : MLS®# 202406209
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Listed by Air Realty Limited
Data was last updated July 1, 2024 at 01:20 AM (UTC)
Area Statistics
Listings on market:
30
Avg list price:
$444,450
Min list price:
$138,800
Max list price:
$1,250,000
Avg days on market:
40
Min days on market:
5
Max days on market:
228
These statistics are generated based on the current listing's property type and located in 104-Truro / Bible Hill. Average values are derived using median calculations.