Located at 137-139 Water Street, this remarkable four-unit property offers outstanding potential for investors and business owners alike. Situated in the vibrant and highly desirable waterfront district of Pictou, the property presents a rare blend of residential and commercial space—making it a valuable addition to any real estate portfolio. Just steps from the scenic Pictou Harbour, it enjoys a prime location beside the high-performing Arts Centre and the newly expanded public library. The property also backs directly onto the popular Jitney Trail, offering unmatched access to both cultural attractions and recreational amenities. The ground floor features a commercial unit currently in use—perfect for businesses seeking high visibility and foot traffic. Also on the ground level is a vacant, cozy two-bedroom unit with in-suite laundry, offering excellent flexibility for residential or commercial conversion. Two additional one-bedroom units are currently rented on fixed-term leases, providing immediate and stable rental income. Enjoy breathtaking harbor views right from your back patio—an ideal setting to relax and take in the waterfront charm. All tenants are responsible for their own utilities, keeping operating costs low. The property is well maintained and includes a durable metal roof, numerous updated windows, and five efficient heat pumps (including one in the basement) for year-round comfort. A propane stove adds an extra layer of convenience during power outages. This is Pictou living at its finest—don’t miss the chance to own a truly versatile and income-generating property in one of Nova Scotia’s most scenic and growing communities.
Take the Pictou exit off the rotary onto West River Road, stay right at the fork onto water street and property will be on your right.
Listing Sub-Area:
107-Trenton, Westville, Pictou
Property Type:
Multi-Family
Multi-Family Type:
Fourplex
Title To Land:
Freehold
Building Dimenions:
49x31
Outside Dimenions:
49x31
Lot Size:
5,227 sq. ft.486 m2
Prop Size:
Under 0.5 Acres
Commercial / Retail Space:
Yes
# of Rental Units / Occupied:
3
Exterior Finish:
Vinyl
Foundation:
Stone
Basement:
Full, Undeveloped, Walkout
Floor Finish:
Carpet, Laminate, Linoleum
Roof:
Metal
Heating:
Baseboard, Heat Pump -Ductless, Stove
Fuel:
Electric, Propane
Parking:
Yes
Parking Description:
large gravel lot in behind
Driveway:
Gravel
Water Supply:
Municipal
Water And Sewage:
565.05
Sewer:
Municipal
Num Units:
4
Num 1 Bed Units:
2
Num 2 Bed Units:
1
# Of Dryers:
1
# Of Fridges:
3
# Of Stoves:
3
# Of Washers:
1
Rental Income:
Yes, 43356.12
Approx. Net Income:
37116.07
Insurance Expense:
1727
Taxes Costs:
3948
Management expense:
0
Betterment Charges:
1% Deed Transfer Tax
Heating Bill:
0
Approx. Total Expense:
6204.05
Approx. Total Income:
43,356
Air Conditioning, Balcony
Park, Playground, Public Transit, Recreation Center, School Bus Service, Shopping, Marina, Place of Worship, Beach
Data was last updated May 14, 2025 at 09:20 PM (UTC)
Area Statistics
Listings on market:
87
Avg list price:
$385,000
Min list price:
$77,900
Max list price:
$3,600,000
Avg days on market:
79
Min days on market:
2
Max days on market:
854
These statistics are generated based on the current listing's property type
and located in
Northern Region. Average values are
derived using median calculations.