Address
272-274 Tower Street, Saint John, NB
Price
$ 529,900
Property Attributes
- ID#NB146431
- TypeMulti-Family
- Listing Status Active
- MunicipalitySaint John
- CitySaint John
- AreaSaint John
- Postal CodeE2M 1Z7
- Style
- Price$ 529,900
- Bedrooms0
- Bathrooms0
- Half Bathrooms0
- Sqr Footage3600
Data Source:
Canadian Real Estate Association (CREA)
Property Description
Here's an opportunity to get into multifamily real estate with five occupied units, off street parking, separate coin operated laundry, and an additional vacant lot included in the sale. Located on Saint John's West Side, this property is priced at $529,900, working out to just over $100K per unit, while the combined parcels offer an impressive 9,988.91 sq ft of land. The building features three 2 bedroom units and two 1 bedroom units, with all five currently occupied and generating a combined $5,725.75 in monthly rental income, or approximately $68,709 annually. Current rents range from $925 to $1400 per month, offering an investor an established income stream from day one. For the seasoned investor, this is a straightforward addition to a portfolio. For the first time investor, it offers a manageable way to step into multifamily ownership with multiple income streams under one roof. And then there's the land. The neighbouring vacant lot is included, giving the next owner nearly 10,000 sq ft across the combined property and opening the door to future possibilities, subject to the necessary approvals. Five units. Five income streams. Nearly 10,000 sq ft of land. One compelling opportunity to build your investment portfolio. (id:7434)
General Features
| Property Type | Multi-family |
|---|---|
| Building Appliances | Refrigerator, Stove, Washer, Dryer |
| Location Description | Exit bridge heading west, take exit 120 onto Marketplace to Tower |
| Foundation Type | Concrete |
| Ownership Type | Freehold |
| Building.StoriesTotal | 2 |
Interior Features
| Building Fireplace Present | False |
|---|---|
| Building Heating Fuel | Oil |
| Flooring Type | Laminate, Vinyl, Wood |
| Living Area Range | 3600 |
Exterior Features
| Sewer | Municipal sewage system |
|---|---|
| Exterior Finish | Aluminum siding, Vinyl |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in E2M 1Z7
Price
