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$ 1,050,000
Est. payment | /mo
6,682 SqFt
$ 1,050,000
Est. payment | /mo
6,682 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 6682
Square Footage 6,682 sqft
Price per Sqft $157
MLS® Listing ID NB135375
Lot Size 4,499 Sqft
Acres 0.10329005
Property Sub-Type Freehold
Property Description
An opportunity with serious upside in the heart of Saint Johns City Centre. This multi-unit property at 101 Carleton Street is currently operating as a 7-unit building, with an additional unit already in place offering future potential (buyer to verify). The property features a strong unit mix, primarily 2-bedroom units, appealing to a wide range of tenants. Units 1-4 are currently rented. Rents are as follows: Unit 1 $1,500/month, Unit 2 $1,350/month, Unit 3 $1,450/month, Unit 4 $1,500/month. All tenants pay their own heat/electricity. Additional units with projected rents are: Unit 5 $1,400/month, Unit 6 $1,600/month (this unit is not a legal unit), Unit 7 $1,100/month, Unit 8 $1,000/month. This brings projected gross annual income to approximately $130,800. Annual expenses include property taxes of $13,309, insurance of $2,500, water and sewer of $4,500, garbage removal of $1,586, and snow removal of $800, totaling approximately $22,695 in yearly expenses. This results in a projected net income of approximately $108,105. The building features in-unit laundry, and on-site parking. Located just steps from the hospital, and minutes to uptown Saint John, TD Station, restaurants, and amenities, this is a highly rentable area with consistent tenant demand. While the property would benefit from some TLC, the upside is clear. Whether you're looking to improve and stabilize, or hold long-term, this is a property where the numbers make sense with the right approach. (id:24570)
Location
Province NB
Rooms
Kitchen 0.0
Interior
Flooring Laminate, Vinyl
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by RE/MAX Professionals
Nearby Locations
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