1550-1554 Vernon Street Street, Halifax

About 1550-1554 Vernon Street Street, Halifax

A standout opportunity on Vernon Street, just steps from Coburg Road and Dalhousie University. Under the same ownership since 2004, this well-maintained triplex combines strong existing income, zero vacancy and a proven rental history in one of Halifax’s highest-demand rental locations. Comprising three civic addresses—1550, 1552 and 1554 Vernon Street—the property generates $174,692 in gross annual rental income, or $14,558 monthly. With annual operating expenses of approximately $29,275, NOI is $145,417, representing an attractive 7.0% cap rate. Units are separately metered for electricity, which is paid by the tenants; heat and hot water are included in the rents. Current leases are in place, providing income from day one. Significant capital improvements include a new roof and skylights (2022), new natural gas boiler (2022), replacement of wood windows with vinyl, upgraded electrical and most plumbing, and new front and rear steps (2026). Three on-site parking spaces are an added advantage in this highly walkable university neighbourhood. With established income, substantial upgrades already completed and an exceptional location within steps of Dalhousie, this is a rare opportunity to acquire a proven rental property in the heart of Halifax’s university district.

Property Details

Address

1550-1554 Vernon Street Street, Halifax

City

Halifax

Province

Nova Scotia

Property ID

00049890

Type

Triplex

Building Dimensions

Approx. 50' x 27'

Parking & Features

Has Garage

No

Parking

parking for 3 cars.

Waterfront

No

Appliances & Inclusions

Appliances Included

Dishwasher, Dryer - Electric, Refrigerator, Stove, Washer

Inclusions

Major appliances.

Exclusions

Tenant possessions.

Additional Information

Listed By

Royal Lepage Atlantic

Status

FOR SALE

Listed

October 2, 2026

Original listing

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