61-63 Union Street, Saint John
$7,250,000
In a riveting real estate market and a growing population, this property presents a great opportunity, a rare gem that comes by only once in a while, a chance to consolidate your investments in a big way, under one roof. This property offers two apartment towers, each 5 stories, for a total of 25 units (24x2 bed, 1 bachelor), plus 104 parking spaces, 55 of which are indoor. Across the street, tenants can wander through the maze of indoor pedways, from the Aquatic Center to city shopping and restaurants, TD Sports Center, City Market, Convention Center, Market Square, etc so who cares about the hard winter conditions!! Enjoy the stunning harbour views and spacious two bedroom units. Both towers have been completely remodeled in the last 10 years, along with new siding and modified roofs. All appliances are currently owned by the seller and included in the sale price. Annual rent roll is around $670 000 and there is ample room to increase rents; Property tax $107 083; Utilities (including electricity, water& sewage) $71 558; Insurance $23 100; Repairs and Maintenance (including garbage, lawncare and snow removal) $20 625; Management $27 381; With a net income of approximately 400k. Proof of financing may be required prior to viewing the property. First viewing will be limited to a couple of typical units. All info and measurements to be verified by purchaser prior to closing. See Video link>> https://vimeo.com/937769803 (id:6289)
Electric, Natural gas Heat Pump
