$620,000

177 Queen Street, North Sydney, Cape Breton Island, Nova Scotia


This property offers several possibilities for you. The six separate units provide the option of either renting all six units or residing in one and renting the other five. You could live on the waterfront in beautiful Cape Breton Island and have five apartment rentals pay your mortgage!

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The six modern, open-concept 1 & 2-bedroom apartments were developed within this 3-story historic building on the beautiful waterfront in North Sydney, Nova Scotia. Just on the edge of downtown, the property enjoys beautiful harbour views of the ballast (fishing) grounds and the Marine Atlantic ferry. The lot is approx. 15,000 sqft (approx 0.34 acres) with a large parking space. The property also includes a water lot that extends over 800 feet into the harbour with the potential for waterfront development or a private dock/wharf. The land is serviced by municipal water and sewer.

Built around 1900, the building is approx. 5,500 square feet. The entire building was completely renovated in 2008. The exterior had a new roof, doors and windows at that time. New vinyl siding was added in 2019. The interiors were completely stripped and new plumbing, electrical, insulation, drywall, flooring, kitchens & appliances were installed. All units have their own 60w electrical panel, with electric heat. Six water heaters were replaced 2 years ago.

Several tenants have been in the building for almost 10 years. Very low turnover. Rent all six units for a reliable monthly income.

This is an unbelievable investment opportunity.

Features

Apartment Photos:

Top Floor Apartment - West Side: Approx. 1300 sq.ft. Two bedrooms

Top Floor - East Side: Approx 750 sq.ft. One bedroom

Main Floor - West Side: Approx 900 sq.ft. One bedroom

Main Floor - East Side: Approx 800 sq.ft. One bedroom

The photos included for this appartment are from the original rennovations in 2008. The tennant has been occupying it since this time. We can take photos when absolutely necessary, but rest assured this appartment is in spectacular condition.

Ground Floor Apartment, West Side: Approx. 1100 sq. ft. one bedroom + Den

Ground Floor - East Side: Approx 700 sq.ft. One bedroom

We will take photos of this apartment when necessary. There is an elderly couple in the unit for the past 5 years. This appartment is in excellent condition and has a similar footprint to the unit above, but is closer in appearance to the Ground Floor Apartment, West Side.

Location:

The property is located at 177 Queen St, North Sydney, Nova Scotia, Canada

Contact for more information. Serious Inquiries only.