St. John's, NL, A1C1B8

About the property (MLS: 1281888):

Step into a piece of St. John’s history with 302-304 Water Street, a prime mixed-use property nestled in the city’s bustling downtown core, backing onto Mahon’s Lane with direct access to George Street. This lively spot, known for its music, pubs, and energy, makes this property a golden opportunity for those with an eye for investment. With surrounding properties fetching well over a million, this one offers exceptional value with a steady stream of income and endless potential for growth. The building features two fully rented commercial units, one home to a bustling restaurant and the other a retail shop, bringing in $5,000 per month POU. Above, two one-bedroom residential apartments await their final touches, offering the chance for a keen investor to complete the work and easily bring in an additional $1,500 and $1,200 per month, making the total income potential a remarkable $7,700 per month. Each unit is equipped with its own electrical meter, ensuring seamless management, and the exterior façade has been rebuilt within the last decade, preserving the charm and strength of this classic downtown structure. With its prime location at the doorstep of George Street, where visitors and locals alike gather to soak in the spirit of the city, these apartments would shine as profitable Airbnbs or long-term rentals. Whether you’re looking to capitalize on St. John’s ever-growing rental demand, secure a valuable commercial holding, or restore and enhance a property rich in history, this is a rare chance to claim your stake in one of the most sought-after locations in the province. Opportunities like this don’t come knocking twice—book your viewing today and see the potential for yourself! (id:56688)

Property Details