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$ 529,900
Est. payment /mo
Active
272-274 Tower Street Saint John, NB E2M1Z7
3,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3600
Square Footage 3,600 sqft
Price per Sqft $147
MLS® Listing ID NB146431
Lot Size 9,988 Sqft
Acres 9988.91
Property Sub-Type Freehold
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:24570)
Location
Province NB
Rooms
Kitchen 0.0
Interior
Flooring Laminate, Vinyl, Wood
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by RE/MAX Professionals