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$ 1,500,000
Est. payment /mo
Active
49 Quinton Avenue Saint John, NB E2M5L7
0.41 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS® Listing ID NB108277
Originating Board New Brunswick Real Estate Board
Lot Size 0.413 Acres
Acres 18000.0
Property Description
INVESTMENT ALERT!! Here is your chance to own a 10 Unit Apartment building in probably the most desirable area of Saint John West. This building is an ICON of the Westside and tucked away in a residential neighbourhood. With the City Transits New Flex System in place this is a great home for tenants without vehicles. There is currently a 4 bay garage (dirt floor), and 3 lots total adding to the investment. Current owners has an application into the City of SJ to build another 11 unit building on the property. We do believe that there is a very good chance this will be approved also increasing the value of the land and potential. There are some long term tenants and some newer ones. Building has a new Roof and Propane Furnace. The building consist of 8 One bedroom plus den units these can be used as a second smaller bedroom as well and 2 Three bedroom units on the Top Floor. Current Rent Roll is 1+Den units = $650,$1200,$1035,$790,$1035,$1200,$790,$1250 ( As you can tell there is room for increases). 3 Bedroom units = $1400,$2000 with a total Rent Roll currently at $136,200 / YEAR, plus $2200 in laundry income... If all units were at Market Rents Revenue could be $165,400. Operating Expenses are Property Tax $13,725, Insurance $5292, Electricity $3730, Garbage $3105, Snow Removal $1100, Water/Sewage $2877, Heat $13,773. Total Operating Expenses =$43,602 with a NET of $94,798. Showing will be starting on October 24 and offers will be considered as them come. (id:24570)
Location
Province NB
Interior
Heating Forced air,
Flooring Hardwood
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Listed by RE/MAX PROFESSIONALS
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