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TelephoneEmail296 LeMarchant Road, St. John's, Newfoundland & Labrador, Canada A1E1R2

296 LeMarchant Road

St. John's, NL, A1E1R2

location

0 Bed | 0 Bath

$219,900

296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty
296 LeMarchant Road St. John's Newfoundland & Labrador Canada A1E1R2, for Sale, residential, Haris Barki, Keller Williams Platinum Realty

Presented By

Haris Barki
Haris Barki
REALTOR ®
Keller Williams Platinum Realty
About the property (MLS: 1279727):

Attention investors and contractors - Great renovation potential or commercial opportunity. All three levels have framing exposed, the roof was shingled in 2023 and the property is ready to be renovated for the purchasers desired use. The property is zoned Residential Mixed (RM) permitting a number of different applications & discretionary uses such as a two-apartment home, office space, bed and breakfast, retail uses, and more, subject to approvals. Savvy investors should take note of the City's new (RM) zoning text amendments which could allow for higher density usage. Ample parking available with spaces in the front of the building and full drive-in rear access suitable for a parking lot. Property also features a small outbuilding for storage. Great opportunity for a savvy buyer in a growing part of the City's West End, just outside of the downtown area and located next to the growing Urban Market, Cove Bouldering Gym & LeMarchant business area. Please note that all measurements provided are approximate and should be independently confirmed by the purchaser. Any necessary permits, approvals, applications or associated fees will be the responsibility of the purchaser. Sale of property is HST applicable as previous use was a commercial property. Sold as is where is. (id:56688)

Property Details
MLS: 1279727
Listing ID: 27671689
Address: 296 LeMarchant Road, St. John's, Newfoundland & Labrador, Canada A1E1R2
Status: Active
Last updated: a month ago ( Dec 9, 2024 )
Year Built: 1950
Property Type: Single Family
Architectural Style: 2 Level
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 0
Baths: 0
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Living Area Total: 2,600 square feet
Price per sq ft: $85
Tax Annual Amount: $0
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Concrete
Heating: Electric
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 18
Rurl
Coordinates: [47.552066, -52.725456]

Rooms

Second level
Other
40 x 20 null
Basement
Other
40 x 20 null
Main level
Other
40 x 25 null

Basic Calculator



First Mortgage: $175,920

Mortgage insurance premium: $0

Total Financing: $175,920

Rough closing fee (1.5%): ~ $3,299

Total downpayment with estimated closing fee: $47,279

0000

Investment Calculator:

MonthlyYearly
Gross Revenue$2,861$34,332
Gross rental income (income/principal ratio)1.301%15.613%
Mortgage$0$0
Monthly Expenses$275$3,300
Vacancy$144$1,717
Management Fee$229$2,747
Expense / Income Ratio9.61%9.61%
Cash Flow$2,215$26,580
Net Operating Income (NOI)$2,215$26,580
Capitalization Rate1.01%12.09%
Capitalization Rate: 12.09%
After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $314,143