About the property (MLS: 1285071):
Unique opportunity! Fully detached, registered 2-apartment with outstanding harbour views and rear garage, accessible from Pilot’s Hill! This well maintained property (detailed list of improvements available upon request) is located in the heart of the downtown core and is ideal for an investor or home owner looking to offset their mortgage with apartment revenue. The main level one bedroom apartment, fronting on Gower Street, consists of a living room with fireplace and kitchen with dishwasher, and private rear patio off the kitchen. Access to shared laundry and shared basement for storage (Shared laundry could be easily converted to a private use for upper level apartment). The bright and spacious 2-storey apartment occupying the second and third levels, boasts outstanding views of St. John’s Harbour, Signal Hill and the Narrows. The second floor includes a large updated eat-in kitchen with dishwasher, adjoining living room and dining room, both with fireplace and finished with unique wood paneling, and full bathroom. Stunning views from the rear patio, accessible off the hallway. The top level has three well-proportioned bedrooms (one with sitting room/office), and full bathroom. Convenient energy efficient mini split for heating and cooling. Large detached garage at the rear provides a unique opportunity for parking or storage/workshop space. Property will be vacant upon closing. Offers to be submitted by May 27 at 12pm (noon) and left open for acceptance May 28 until 12pm (noon) (id:56688)
Property Details
Listing ID: 28334242
Address: 71-73 Gower Street, St. John's, Newfoundland & Labrador, Canada A1C1N6
Status: Active
Last updated: a month ago ( May 20, 2025 )
Year Built: 1920
Property Type: Single Family
Architectural Style: 3 Level
Structure Type: Two Apartment House
Ownership Type: Freehold
View: View
Beds: 4
Baths: 3
1/2 Baths: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Hardwood, Mixed Flooring
Living Area Total: 3,149 square feet
Price per sq ft: $156
Tax Annual Amount: $2,540
Tax Year: 2025
Garage? Yes
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Dishwasher
Water Source: Municipal water
Heating: Baseboard heaters, Electric
Flooring: Hardwood, Mixed Flooring
Exterior Features: Other
Common Interest: Freehold
Number of photos available: 49
Rurl
Coordinates: [47.569041, -52.703902]
Rooms
Basement | Storage Storage Storage Storage | 6'2""X12'5"" null 8'6""X12'5"" null 15'0""X8'0"" null 24'11""X19'8"" null |
Third level | Bath (# pieces 1-6) Bedroom Bedroom Storage Primary Bedroom | 9'11""X6'9"" 2pc 11'6""X11'6"" null 12'10""X12'9"" null 10'8""X6'10"" WIC null 14'2""X11'1"" null |
Second level | Bath (# pieces 1-6) Living room Dining room Kitchen Foyer | 7'1""X6'1"" 3pc 12'4""X13'3"" null 12'10""X13'3"" null 13'11""x13'3"" null 20'0""X6'1"" null |
Main level | Bath (# pieces 1-6) Not known Not known Not known Not known Porch | 8'8""X4'10"" 3pc 14'1""X6'1"" null 13'4""X14'6"" null 13'3""X6'9"" null 10'2""X11'11"" null 12'5""X6'1"" null |
Basic Calculator
First Mortgage: $391,200
Mortgage insurance premium: $0
Total Financing: $391,200
Rough closing fee (1.5%): ~ $7,335
Total downpayment with estimated closing fee: $105,135
Investment Calculator:
Monthly | Yearly | |
---|---|---|
Gross Revenue | $3,464 | $41,568 |
Gross rental income (income/principal ratio) | 0.708% | 8.501% |
Mortgage | $0 | $0 |
Monthly Expenses | $612 | $7,344 |
Vacancy | $174 | $2,079 |
Management Fee | $278 | $3,326 |
Expense / Income Ratio | 17.67% | 17.67% |
Cash Flow | $2,402 | $28,824 |
Net Operating Income (NOI) | $2,402 | $28,824 |
Capitalization Rate | 0.49% | 5.89% |