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Royal LePage
Royal LePage
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$699,000

Saint John NB, E2L 1H3

MLS® # NB127488

Property Information:

An exceptional opportunity awaits in the heart of Uptown Saint Johna charming 7-unit building nestled on one of the citys iconic heritage streets. This well-maintained property is ideally located within walking distance to Saint John's best restaurants, shops, galleries, and waterfront attractions. Whether you're a first-time investor or looking to expand your portfolio, this property offers a strong cap rate of over 67% and excellent long-term potential. The building features a solid mix of five 1-bedroom units and two 2-bedroom units, providing broad tenant appeal. Current rental rates are strong, with Unit #1 renting at $1,175, Unit #2 at $1,200, Unit #3 at $875.50, Unit #4 at $1,133, Unit #5 at $1,150, Unit #6 at $1,236, and Unit #7 also at $1,200. It includes two separate access points: the front entrance on King Street leads to five of the units, while the rear access from Wentworth Street opens to two fully renovated units, offering privacy and modern finishes. The property also features its own driveway with off-street parking availablea rare find in Uptown. This is a unique opportunity to invest in one of the most desirable areas of the city, combining historic charm with solid rental income. (id:27)

Building Features:

  • Style: Multiplex
  • Exterior Finish:
  • Floor Space: 4795 sqft
  • Flooring Type: Ceramic, Hardwood
  • Foundation Type: Concrete
  • Total Finished Area: 4795 sqft
  • Heating Type:
  • Heating Fuel: Natural gas

Property Features:

  • OwnershipType: Freehold
  • Property Type: Multi-family
  • Access Type: Year-round access
  • Floor Space (approx): 4795 Square Feet
  • Lot Size: 4160.00 Square Feet
  • Sewer: Municipal sewage system

Courtesy of: EXIT Realty Specialists

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 196 King Street East, Saint John, New Brunswick, E2L 1H3

Demographic Information of 196 King Street East, Saint John, New Brunswick, E2L 1H3

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$88,025.63

Average Number of Children

1.55

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

12.88 %

High school certificate or equivalent

32.35 %

Apprenticeship trade certificate/diploma

5.21 %

College/non-university certificate

19.46 %

University certificate (below bachelor)

2.04 %

University Degree

28.06 %

Commuter

Travel To Work

By Car

53.82 %

By Public Transit

8.83 %

By Walking

31.73 %

By Bicycle

0.0 %

By Other Methods

5.62 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

86.06 %

Houses

13.94 %

Own Vs. Rent

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