About the property (MLS: 1275601):
ATTENTION INVESTORS! A rare astute find in downtown St. John's! Exceptional opportunity exists with this detached, registered 3-apartment building, located in the heart of the downtown core with parking. Very spacious and very well maintained. Detached three units consisting of (2) three-bedroom units accessed from front deck which are leased for $1800 and $1600 and (1) two-bedroom unit, accessed from driveway leased for $1400. Custom reconstruction in 2008 with careful consideration to maximize the floor plan functionality. Two flats consist of 3 spacious bedrooms, kitchen, living room, in unit laundry, full bathroom, hallway. The ground floor flat consists of two very large bedrooms, kitchen, living room, in unit laundry, full bathroom. Recently refurbished after long term tenant vacated. Gorgeous south facing views of the harbour and Signal hill. All appliances included. Middle and top units both have secondary access through a rear deck/fire escape. The ideal downtown property, a 2-car driveway with plenty of on street parking. Electric heating in all units. Upgrades to bathrooms, flooring, carpets, bathroom fans and water heaters. All units regularly painted between tenants. Each unit is approximately 990 sq. ft. Great investment property or ideal to live in one of the units and enjoy the income of the other two. These apartments were once successful Airbnb listings, but more recently leased on fixed term contracts. Short walk to downtown core, theatres, restaurants and famous George Street, offices and retail shops. Minutes to St. Clare’s hospital and on bus routes for Village Mall, Avalon Mall, MUN and CONA. (id:56688)
Property Details
Listing ID: 27235523
Address: 92 Brazil Street, St. John's, Newfoundland & Labrador, Canada A1C4V4
Status: Active
Last updated: a month ago ( Jul 31, 2024 )
Year Built: 1950
Property Type: Single Family
Architectural Style: 2 Level
Structure Type: Multi-Family
Ownership Type: Freehold
Beds: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Hardwood, Laminate, Carpeted
Fencing: Fence
Living Area Total: 2,970 square feet
Price per sq ft: $224
Tax Annual Amount: $3,163
Tax Year: 2024
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Refrigerator, Stove, Dryer
Water Source: Municipal water
Foundation Details: Poured Concrete
Heating: Baseboard heaters, Electric
Flooring: Hardwood, Laminate, Carpeted
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 35
Rurl
Coordinates: [47.559283, -52.71633]
Rooms
Basic Calculator
First Mortgage: $531,600
Mortgage insurance premium: $0
Total Financing: $531,600
Rough closing fee (1.5%): ~ $9,968
Total downpayment with estimated closing fee: $142,868
Investment Calculator:
Monthly | Yearly | |
---|---|---|
Gross Revenue | $3,268 | $39,216 |
Gross rental income (income/principal ratio) | 0.492% | 5.902% |
Mortgage | $0 | $0 |
Monthly Expenses | $831 | $9,972 |
Vacancy | $164 | $1,961 |
Management Fee | $262 | $3,138 |
Expense / Income Ratio | 25.43% | 25.43% |
Cash Flow | $2,013 | $24,156 |
Net Operating Income (NOI) | $2,013 | $24,156 |
Capitalization Rate | 0.30% | 3.64% |