46 South Street, Truro

Description

Exceptional Opportunity on South Street - Bring Your Vision! Welcome to 46 South Street, a diamond in the rough sitting on a large corner lot in one of Truro’s most sought-after mature neighbourhoods. This property may have seen better days, but it has exceptional bones and the potential to become something truly special for the right buyer. Originally purchased as a fix-and-flip project, the current seller is unable to complete the work due to other commitments - creating an incredible chance for you to step in and finish the job. The interior has already been gutted, saving you time and money on demo, and all-new windows and doors have already been purchased and are included with the sale. Zoned R-2, the property can, by right, be converted into two units. The basement, featuring high ceilings and convenient access through the rear entrance, offers a natural opportunity for a smooth conversion into a self-contained suite. Additionally, there's potential for a third unit in the garage subject to a development agreement from the town (buyer to verify). Whether you're an investor, builder, or someone with vision and a bit of elbow grease, this is a rare chance to create real value in a fast-growing market. Just minutes from groceries, public transit, the hospital, civic centre, Dalhousie University's Agricultural Campus, and all the amenities booming Truro has to offer. Please note: the home is currently un-insurable and unlikely to qualify for traditional financing - this is a project best suited to cash buyers or those with alternative financing. We were told by a mortgage broker that this property may qualify for certain private lender financing options. We have an estimate from a General Contractor based in Dartmouth to complete the renovation and convert this property into two units, including most costs, at a price of roughly $153,000. Don't miss out on this promising redevelopment opportunity - contact your agent today to learn more!