An outstanding opportunity to acquire a high-performing waterfront investment property (10% Cap rate) offering stable cash flow, an exceptional location, and significant long-term upside. This well-maintained 6-7 unit mixed-use building occupies a premier waterfront setting with unobstructed ocean views while being just steps from shopping, restaurants, services, and public transit - an ideal combination that supports both commercial success and strong residential occupancy. The property is anchored by an established commercial tenant occupying both ground-floor units, providing dependable income and reducing leasing risk. Above, five spacious one-bedroom residential suites generate consistent rental revenue, with each waterfront-facing apartment featuring a private balcony overlooking the ocean - a highly sought-after amenity that encourages strong tenant demand, premium rents, and excellent tenant retention. Additional income generated through coin-operated laundry, while the on-site parking lot is a valuable asset that enhances convenience for both commercial and residential tenants. A live-in superintendent is currently in place and may be retained, offering seamless day-to-day property management for investors seeking a hands-off ownership experience. With its balanced mix of commercial and residential income this property offers diversification that helps reduce investment risk while benefiting from multiple revenue streams. Opportunities to acquire quality waterfront income properties of this calibre are increasingly rare, making this an ideal addition to an investment portfolio or a strategic long-term hold. A CAP reate of just over 10% is particularly attractive in today's market, reflecting strong cash flow relative to the purchase price and providing investors with an excellent balance of immediate income. (id:4069)
Address
42 Highway 330
List Price
$725,000
Property Type
Multi-family
Type of Dwelling
Apartment
Transaction Type
Sale
Area
Nova Scotia
Sub-Area
Barrington Passage
Lot Size
0.2811 Sq. Ft.
Year Built
1999
MLS® Number
202616313
Listing Brokerage
Royal Lepage Atlantic (Mahone Bay)
Basement Area
None
Postal Code
B0W1G0
Ownership
Freehold
Site Influences
Park, Playground, Shopping, Place of Worship, Beach, Waterfront, View
Community Features
School Bus
Heat Source
Electric
Heat Type
Baseboard heaters, Heat Pump, Ductless
Cooling Features
Air Conditioned
Foundation Details
Concrete Slab
Other Structures
Shed
Water Source
Drilled Well
Sewer
Septic System
