Exceptional opportunity at 24 Joffre Street in Dartmouth ideal for investors, owner-occupiers, or families seeking flexibility and space. Set on a large 8,600 sq. ft. lot, this property offers two vacant units at closing, both with separate driveways, separate electrical services, and in-unit laundry. The upper unit (24 1/2 Joffre) is a bright 2-bedroom apartment added in 2005 with its own 125-amp service. The main unit (24 Joffre) offers 2 bedrooms plus den, with a partially finished basement including a rec room, additional bedroom (non-egress), laundry, and garage, serviced by 100 amps. Enjoy a large backyard perfect for outdoor living, entertaining, or family use. Located in a sought-after area just minutes from downtown Dartmouth, public transit, schools, shopping, and everyday amenities, and close to Oathill Lake, Maynards Lake, and Lake Banook. The layout of this home offers a clear opportunity to create a third unit in the basement and with ER-3 zoning, the property also offers strong future potential for up to 8-unit development (subject to approval). Projected rental income is approximately $2,200/month for Unit 1 (top floor) and $2,600/month for Unit 2 (main/basement), generating estimated gross annual income of $57,600. With tenants paying their own electrical meters, estimated annual expenses include water ($1,212), oil heat ($6,174), and property taxes ($3,397), resulting in an estimated annual net operating income of approximately $46,817. Additional upside exists through the installation of electric baseboards or heat pumps, allowing tenants to assume heating costs and increasing the estimated NOI to approximately $52,991 annually. With strong rental potential, flexible layout, and a prime location near lakes, parks, and city conveniences, this is a rare opportunity in one of Dartmouth's most desirable areas. (id:4069)
Address
24 Joffre Street SE
List Price
$699,900
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Nova Scotia
Sub-Area
Dartmouth
Lot Size
0.1974 Sq. Ft.
Year Built
1950
MLS® Number
202608892
Listing Brokerage
Royal LePage Atlantic (Dartmouth)
Postal Code
B2Y3C8
Ownership
Freehold
Site Influences
Park, Playground, Public Transit, Shopping, Place of Worship
Community Features
Recreational Facilities, School Bus
Appliances
Oven - Electric, Dishwasher, Dryer - Electric, Washer, Freezer
Heat Source
Oil
Heat Type
Forced air
Foundation Details
Block, Concrete Perimeter
Water Source
Municipal water
Sewer
Municipal sewage system
