About the property (MLS: 1281225):
Exceptional 6-unit, 2-storey property ideally located in the heart of the city, within walking distance to amenities, schools, walking trails, bus routes, and the vibrant downtown core. Just a short drive to Memorial University, the Health Sciences Centre, and Avalon Mall, this property offers unparalleled convenience and appeal for tenants. Each of the six bright and spacious units features a comfortable living room, kitchen with an eating area, and 2-3 bedrooms, along with a full bathroom. Extensively renovated in 2017, the property underwent meticulous updates down to the studs, including new electrical systems (6 individual meters plus a house meter), PEX plumbing throughout, upgraded insulation, and a completely refurbished exterior with new siding, windows, and doors. Currently, all six units are leased with tenants eager to remain, making this an ideal investment opportunity. All leases are POU. Don’t miss out on this rare opportunity! *Offers to be submitted Monday, January 27, 2024 @ 5:30pm and left open for acceptance until Monday, January 27 @ 6:30pm (id:56688)
Property Details
Listing ID: 27840136
Address: 12 Cashin Avenue, St. John's, Newfoundland & Labrador, Canada A1E3A8
Status: Active
Last updated: 18 days ago ( Jan 26, 2025 )
Year Built: 2017
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: Laminate, Mixed Flooring
Living Area Total: 5,450 square feet
Price per sq ft: $147
Tax Annual Amount: $5,622
Tax Year: 2025
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Poured Concrete
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 39
Rurl
Coordinates: [47.555698, -52.732414]
Rooms
Basic Calculator
First Mortgage: $639,920
Mortgage insurance premium: $0
Total Financing: $639,920
Rough closing fee (1.5%): ~ $11,999
Total downpayment with estimated closing fee: $171,979
Investment Calculator:
Monthly | Yearly | |
---|---|---|
Gross Revenue | $5,996 | $71,952 |
Gross rental income (income/principal ratio) | 0.750% | 8.995% |
Mortgage | $0 | $0 |
Monthly Expenses | $1,000 | $12,000 |
Vacancy | $300 | $3,598 |
Management Fee | $480 | $5,757 |
Expense / Income Ratio | 16.68% | 16.68% |
Cash Flow | $4,217 | $50,604 |
Net Operating Income (NOI) | $4,217 | $50,604 |
Capitalization Rate | 0.53% | 6.33% |