272-274 Tower Street

About this home

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:66966)

Details

Type

Multi-family

Size

3600 sq ft

Property tax

$5,633

Municipality

Saint John

Interior

Fireplace

No

Appliances

Washer, Refrigerator, Stove, Dryer

Flooring

Laminate, Vinyl, Wood

Heating, cooling and services

Heating

Oil

Water and sewer

Municipal sewage system

Building and exterior

Foundation

Concrete

Outdoor

Vinyl, Aluminum siding

Location

Location is approximate. See nearby homes on the map