14 Spring Street Amherst, Nova Scotia B4H 1R5

$329,900

This mixed-use building is centrally located on the corner of Spring and Albion in the heart of Amherst, within walking distance of downtown shops, restaurants, banks, and Schools! The Albion side sits on the main route toward grocery stores, fast food, gas stations, and more! The property includes four self contained residential units and one commercial/retail space. The apartments consist of three two-bedroom units and one one-bedroom unit, each with a full bathroom, fridge and stove, in-unit laundry, and paved parking. Unit A is currently rented for $1,450 per month, with heat and electricity included. Unit B rents for $1,000 per month plus utilities. Unit 1/2 rents for $650 per month plus utilities. Unit C rents for $800 per month plus electricity. All four residential units are occupied. Combined, the apartments generate $46,800 in annual gross income, with an approximate net of $32,000. The fifth unit is the opportunity. Off Albion, a vacant commercial/retail space of over 1,000 square feet offers open main-floor area, its own washroom, a separate entrance, and additional unfinished space upstairs. This side has its own parking, with about four extra paved stalls. The space is presently used as storage; it previously housed a longstanding business. Work has already been completed on the building, with room still to improve and a clear path to add a fifth income stream. This property is ideal for investors looking to grow a rental portfolio in a convenient downtown location, with solid residential income in place and a storefront waiting to go back to work! (id:31415)

Property Details

MLS® Number	202624024
Property Type	Multi-family
Community Name	Amherst
Amenities Near By	Golf Course, Park, Playground, Shopping
Community Features	Recreational Facilities

Building

Appliances	Stove, Dryer, Washer, Refrigerator
Basement Development	Unfinished
Basement Type	Full (unfinished)
Constructed Date	1950
Exterior Finish	Vinyl
Flooring Type	Carpeted, Hardwood, Laminate, Vinyl
Foundation Type	Concrete Perimeter
Heating Fuel	Electric, Oil
Heating Type	Baseboard Heaters, Forced Air, Furnace, Heat Pump, Ductless
Type	Apartment
Utility Water	Municipal Water

Parking

Parking Space(s)
Paved Yard

Land

Acreage	No
Land Amenities	Golf Course, Park, Playground, Shopping
Sewer	Municipal Sewage System
Size Irregular	0.2
Size Total	0.2 Ac
Size Total Text	0.2 Ac

https://www.realtor.ca/real-estate/30311962/14-spring-street-amherst-amherst