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,$790,$1250 ( As you can tell there is room for increases). 3 Bedroom units = $1400,$2000 with a total Rent Roll currently at $136,200 / 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 $94,798. Extra Large Lot could potential be used for future development. (id:50541)

Property Details

MLS® Number	NB108277
Property Type	Multi-family
Equipment Type	None
Rental Equipment Type	None

Building

Appliances	Refrigerator, Stove, Washer, Dryer
Basement Type	Full
Exterior Finish	Vinyl, Wood
Fire Protection	Smoke Detectors, Alarm System
Flooring Type	Hardwood
Foundation Type	Concrete
Heating Fuel	Propane
Heating Type	Forced Air
Stories Total	3
Total Finished Area	6000 Sqft
Utility Water	Municipal Water

Land

Access Type	Year-round Access
Acreage	No
Sewer	Municipal Sewage System
Size Irregular	18000
Size Total	18000 Sqft
Size Total Text	18000 Sqft

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