Realty / Renovation Business For Sale

Ideal bolt-on or business growth opportunity for an existing landlord or contractor. Turn-key operation with well-maintained properties, experienced staff, tools and equipment. High-quality desirable rentals provide increasing revenue to re-invest in the many growth opportunities. Efficient operation with low overhead and no surplus employees allows a new owner to easily absorb the operation.

~
17 properties with 33 rental units in Halifax/Dartmouth.

~

$592,000 in gross rental revenue and $372,000 in net operating income. Existing leases are at 87% of full market rent, creating growth opportunity of $80,000 through regular turn-over and rental increases.

~
Vacant land and opportunities to build additional units at existing properties can add up to 38 units or $820,000 in additional revenue.

~
Majority of units are on fixed leases and tenants pay own heat and power in 100% of the units. Average rent is approximately $1600 per unit.

~

Majority of units are in Downtown Dartmouth, which is a very desirable rental neighbourhood. Properties are mainly duplexes, triplexes and quads, giving tenants a place to live that feels more like a home, in a walkable neighbourhood. Vacancy is lower than average and units rent very easily.