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$ 450,000
Est. payment /mo
Active
121 - 123 PIERCE Street North Sydney, NS B2A1P4
5,501 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Subdivision North Sydney
MLS® Listing ID 202505113
Originating Board Nova Scotia Association of REALTORS®
Lot Size 5,501 Sqft
Acres 0.1263
Property Sub-Type Freehold
Property Description
Residential Home, Multi-Unit, Room Rental or B&B. Take your pick! This large INVESTMENT PROPERTY has a GENEROUS RATE OF RETURN. Renovated and currently operating as a Bed & Breakfast with high demand, this property is an easy income stream. Current income is $105,000 per year with an additional $4000+ from coin laundry!! That is OVER $109,000 OF PASSIVE INCOME per year - with extremely little effort. The building hosts 9 ensuite bedrooms plus a third level 'owners suite' with an additional 4 bedrooms and one bath. A 2 bedroom self contained apartment is located on the lower level. An operational fire alarm system is wired in for safety and two interior exit stairs from the upper levels. The opportunities here are endless and the INVESTMENT POTENTIAL IS EVIDENT. With multiple power meters the building could be split in to separate apartments with their own power use. With easy access to the highway for travellers or public transit for commuters, you are ideally located. The property will remain turn key for a new owner! There are many opportunities for a new owner to run as they wish. In the heart of North Sydney, overlooking the harbour and Newfoundland Ferry, this location is ideal for travellers to Cape Breton or those living and working in the area. Seller is open to holding a second mortgage on the property for up to 10% of the purchase price! Call your agent today for more information and add this to your investment portfolio. (id:24570)
Location
Province NS
Rooms
Kitchen 0.0
Interior
Flooring Concrete, Wood
Exterior
Parking Features No
Community Features High Traffic Area
View Y/N Yes
View Harbour, Ocean view
Private Pool No
Others
Ownership Freehold
Listed by RE/MAX Park Place Inc.