42 Highway 330
Barrington Passage, Barrington Passage, NS, B0W1G0
Listed by Royal Lepage Atlantic (Mahone Bay)
$725,000
Listed 111 days ago · MLS® 202616313
About this home
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:66966)
Details
- Type
- Apartment
- Basement
- None
- Neighbourhood
- Barrington Passage
- Municipality
- Barrington Passage
Interior
- Fireplace
- No
- Flooring
- Tile, Laminate, Carpeted
Heating, cooling and services
- Heating
- Heat Pump, Baseboard heaters, Electric, Ductless
- Air conditioning
- Air Conditioned
- Water and sewer
- Septic System
Building and exterior
- Year built
- 1999
- Foundation
- Concrete Slab
- Outdoor
- Wood siding, Concrete Siding
Parking
- Driveway and parking
- Paved Yard, Parking Space(s)
Location
Location is approximate. See nearby homes on the map
Listed by Royal Lepage Atlantic (Mahone Bay).
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.
The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.