49 Quinton Avenue Saint John, New Brunswick E2M 5L7

$1,400,000

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. 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,$1200,$1250 ( As you can tell there is room for increases). 3 Bedroom units = $1400,$2000 with a total Rent Roll currently at $141720/ 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 $98118. Extra Large Lot could potential be used for future development. (id:35613)

Property Details

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https://www.realtor.ca/real-estate/27570959/49-quinton-avenue-saint-john