18 Gaspereau Avenue

Description

Exceptional income potential meets strategic development upside in the heart of the Acadia University student housing district in the historic downtown of Wolfville. This prime location fourplex offers a rare combination of immediate stability and long term growth within Wolfvilles high demand rental market. The property consists of two spacious two bedroom units and two efficient bachelor units, all benefiting from a remarkable track record of zero vacancies over the past 26 years. Financial performance is robust with 2025 gross rents at $56,820 and 2025 Net Operating Income (NOI) of $43,728. The building is highly efficient with electric baseboard and ductless mini split heating. Each unit is individually metered and paid for by the tenants. While currently providing stable cash flow, the in place rents sit below market, offering a clear path to increased NOI through natural turnover and light cosmetic upgrades to kitchens and finishes. Perhaps the most significant advantage is the favorable new C-1 Downtown zoning. This designation allows for increased as of right density and development potential, significantly enhancing the underlying land value. Whether you are looking for a reliable hold for cash flow or an ideal developer pipeline asset, this property allows you to generate strong returns while navigating the design and permitting process for future intensification. Secure your foothold in one of the most consistent rental markets in the province and get paid to wait for the next phase of Wolfvilles downtown evolution. (id:56844)