Funds need to purchase and renovate a triplex to make a 2 bedroom and 1 bedroom rental unit. There is a 3 bedroom with a long term tenant at $600/ month, the 2 bedroom was recently rented for $1000/month and the 1 bedroom will be renovated and rented for $500 / month.
The funds can be secured by a first mortgage, the appraised value of the building is 108k.
The property is located in Springhill Nova Scotia Canada.
Springhill has a community college, Nova Scotia Community College, and a large manufacturer ( RoPak) this property is within walking distance of both, and rentals are always in high demand.
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