5516-18 Nora Bernard Street

Property Features

• With its candy-colored façade, 5516-18 Nora Bernard includes a 3-storey 5-unit low-rise residential home located in the south side of Nora Bernard Street in Halifax’s North End.
• Beyond its whimsical exterior lies a meticulously maintained property, with each unit offering in-suite laundry facilities, kitchens, and four-piece bathrooms.
• This investment opportunity benefits from being located within an area that has undergone significant revitalization and investment in the past 10 years.
• As a result, property values have risen, and the demand for better and more varied amenities and housing has increased.
• The area’s ongoing transformation and growth ensure that this opportunity is setup for success, with potential for long-term value and return on investment.
• The property resents a built-in upside with the potential for future rental escalations, savvy investors can capitalize on the evolving market dynamics, maximizing returns while providing quality housing in the area.
• Low risk and high return with each tenant paying additional utilities including including electricity, heat and hot water.
• Favourable market conditions for affordable housing in downtown Halifax.
• Stabilized income with significant opportunity for annual rent escalations.
• Favourable suite mix with one, two and three bedroom units.

Location

Located at the crossroads of Nora Bernard, Creighton and Gottingen Street in proximity to downtown Halifax, this investment property is ideally located in the densely populated and vibrant North End neighbourhood. A prime location within one of the most sought-after neighbourhoods in Halifax makes this site an exceptional multifamily investment opportunity. Nestled within the North End of Halifax this urban community is experiencing tremendous growth, driven by an influx of diverse businesses, residents and tourists. This area has become a magnet for entrepreneurs, professionals, and creative minds seeking opportunities and a high quality of life. This growth has led to increased demand for amenities and infrastructure, making it an ideal location to invest in and contribute to the area’s expansion.

What sets this property apart is its location within a cultural hub. The area is home to a wide range of restaurants, offering an array of culinary experiences from local pubs and breweries to fine dining. From small coffee shops to upscale dining establishments, the community caters to all tastes and preferences. Moreover, the presence of boutique shops, recreational centres, music venues, and performance spaces adds to the area’s cultural vibrancy. A renewed energy and demand for the area has brought forth substantial improvements in infrastructure, public spaces, retail and services providers, making it an appealing place for both residents and visitors.

The North End Halifax area is characterized by a dense concentration of households, with an average influx of people visiting or working throughout the day. Known for its diverse ethnic composition, it stands out amidst its surrounding neighborhoods. The housing landscape reflects a pattern of small, non-family or single households residing in relatively expensive homes. The majority of residents hold university degrees and are engaged in white-collar professions, enjoying average incomes. Demographically, the area is predominantly inhabited by the millennial generation, typically aged between 22 and 37 years old. Its trade area is classified as urban, contributing to a vibrant city atmosphere.