716 Chapel Street Saint John, New Brunswick E2M 2K2

$420,000

Fourplex in very nice neighbourhood Saint John's upper west side offering plenty of off street parking and a large greenspace. There are 2 units on the main floor and 2 units on the upper floor of the building. The main level has a large 3 bedroom unit and a 2 bedroom unit. The top floor features a 3 bedroom apartment and a 1 bedroom apartment. The tenants pay their own utilities and heat is included in the rents. There are meters for each unit in addition to the meter for common areas and the electrical panels are modern breaker panels. According to the previous owner, the roof was done in 2012 and is modified rolled roofing. There is so much potential for this property as it sits on a double lot which extends at the rear to front on Bonner Place. Tons of storage in the back garage, and also in the basement. All apartments have their own laundry connection. Due to the significant anomaly in furnace oil prices in 2022, I have averaged the fuel costs over 2021 and 2022. Also, income projection for 2023 includes a rent increase starting August 1st for 3 of the 4 units. Rental income for 2024 will be $47,844 providing there is not another rent increase in 2024. (id:35613)

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https://www.realtor.ca/real-estate/25389564/716-chapel-street-saint-john