Space
Finished area and layout
- Living Area
- 3,600 sqft
- Above Grade
- 3,600 sqft
- Finished Breakdown
- Above 3,600 sqft
+22 more
3,600 sqft
Living Area
9,989 sqft
Lot
Property Snapshot
Key details for this listing
MLS #NB146431
Property
Type, style and structure
- Type
- residential
- Style
- multi-family / Multiplex
- Ownership
- Freehold
- Stories
About This Property
This multi-family in Saint John offers 3,600 sqft of living area on a 9,989 sqft lot. 2 storeys. The property has lot dimensions of 9988.91. The home features laminate and vinyl and wood flooring, oil heating.
MLS Remarks
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:60351)
Full Listing Details
Address272-274 Tower Street
MLS#NB146431
Listing StatusActive
Property TypeResidential
Sub-TypeMulti-family
TransactionSale
Days on Market61
Common InterestFreehold
Annual Tax$5,633
StyleMultiplex
Living Area3,600 sqft
Above Grade Area3,600 sqft
Stories2
CitySaint John
ProvinceNew Brunswick
Postal CodeE2M1Z7
Lot Size9,989 sqft
Lot Dimensions9988.91
HeatingOil
FlooringLaminate, Vinyl, Wood
FoundationConcrete
AppliancesWasher, Refrigerator, Stove, Dryer
ExteriorVinyl, Aluminum siding
SewerMunicipal sewage system
Water SourceMunicipal water
Annual Tax$5,633
Exit bridge heading west, take exit 120 onto Marketplace to Tower
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