128-132 Forest Hill Road, Fredericton

$599,900

New Listing
0 Beds
0 Baths
0 Sqft
.57 Acres
0 Garages

KNOCK KNOCK ! WHOS THERE? OPPORTUNITY! WHO ARE YOU? IM YOUR OPPORTUNITY FOR A FUTURE MULTI UNIT PROJECT TO LAUNCH YOU INTO EARLY RETIREMENT, THATS WHO! This 5 unit building on the busy Forest Hill Road, even though running as an income business, is also currently babysitting valuable land of 2290 SQ. M. for an innovative futuristic residential project with river views. Next door on the adjacent lot, a 32 unit project is currently under construction; just west of that a 130 unit project has been approved for construction. With the vacancy rate said to be near zero and record low interest rates, many new units are under construction throughout the city trying to meet demand. As an investor, look at it this way: as a buy and hold strategy, the cash flow helps cover the property expenses until youre ready to build; or you sell or partner with a developer when time is right; or you just say start the dozer, refinance other assets and make it happen. Currently R4 zoning, rezoning required for more units. The location is hotobviously by the investment in the adjacent projects. If youve been waiting for that opportunity, better strongly consider KNOCK KNOCK! (Financials are 2019) (id:6289)

Essential Information
Listing #NB051533
Price$599,900
Bathrooms0.00
Acres0.57
Year Built1974
TypeMulti-family
Sub-TypeFreehold
Community Information
Address128-132 Forest Hill Road
CityFredericton
ProvinceNew Brunswick
Postal CodeE3B4K1
Amenities
Features

Treed, Sloping, Balcony/Deck/Patio

Interior
Appliances

Refrigerator, Stove, Washer, Dryer

Heating

Oil Baseboard heaters, Hot Water

Exterior
ExteriorColour Loc, Vinyl
RoofAsphalt shingle
FoundationBlock, Concrete
Listing Details
OfficeeXp Realty

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