$ 2,075,000
1550-1554 Vernon Street Street
1550-1554 Vernon Street Street, Halifax, NS B3H3M7 Photo 1
34 Photos
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1550-1554 Vernon Street Street, Halifax

A standout opportunity on Vernon Street, just steps from Coburg Road and Dalhousie University. Under the same ownership since 2004, this well-maintained triplex combines strong existing income, zero vacancy and a proven rental history in one of Halifaxs highest-demand rental locations. Comprising three civic addresses1550, 1552 and 1554 Vernon Streetthe property generates $174,692 in gross annual rental income, or $14,558 monthly. With annual operating expenses of approximately $29,275, NOI is $145,417, representing an attractive 7.0% cap rate. Units are separately metered for electricity, which is paid by the tenants; heat and hot water are included in the rents. Current leases are in place, providing income from day one. Significant capital improvements include a new roof and skylights (2022), new natural gas boiler (2022), replacement of wood windows with vinyl, upgraded electrical and most plumbing, and new front and rear steps (2026). Three on-site parking spaces are an added advantage in this highly walkable university neighbourhood. With established income, substantial upgrades already completed and an exceptional location within steps of Dalhousie, this is a rare opportunity to acquire a proven rental property in the heart of Halifaxs university district. (id:1945)
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Property details for 1550-1554 Vernon Street Street, Halifax

Type
Multi-family
Lot Size
0.0913
Parking
Gravel, Shared
Heating
Baseboard heaters, Natural gas, Radiator, Hot Water
Exterior
Aluminum siding
Ownership
Freehold

Nearby Listings Stat

Estimated price and comparable properties near 1550-1554 Vernon Street Street

Active Listings
180
Min Price
$20,000
Max Price
$6,399,900
Avg Price
$999,637
Days on Market
68
days
Sold Listings
65
Min Sold Price
$10,000
Max Sold Price
$7,500,000
Avg Sold Price
$910,874
Days until Sold
96
days

Neighbourhood Census Data

Halifax, Nova Scotia / Nouvelle-Écosse

Population
450
Median Age
31
Median Income
$36,288
Dwelling Value
$500,950

Housing Tenure

Owners 61%
Renters 42%

Age Distribution

Dwelling Types

Commute Mode

Education Level

Housing Age

Commute Duration

Avg Household Size: 2.1
Pop. Density: 6,198.3/km²
Avg Shelter Cost: $1,491/mo
Owners with Mortgage: 42.3%
Owners Spending 30%+: 0%
Tenants Spending 30%+: 50%
English only: 76.7%
English and French: 22.2%
Neither: 1.1%
Median Household Income: $74,752
Median Employment Income: $20,544

Price History

Listed
October 2, 2026
by Royal LePage Atlantic
Current Price
$2,075,000
Type
Multi-family
For Sale
1550-1554 Vernon Street Street

Contact Agent Get in touch about 1550-1554 Vernon Street Street, Halifax

Mia Rankin
Mia Rankin
Royal LePage Atlantic

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