For sale · MLS® 1290922
24A Brine Street
St. John's, NL, A1E2T2
List price
$465,000
About this propertyMLS® 1290922
This building is a shell only consisting of a large building with a 3375 ft.² footprint which could accommodate a basement and three additional floors, but can be developed as high as 4 floors with a basement. Offering a multitude of opportunities as either residential or office space. Located in a perfect area on the edge of downtown close to all amenities and zoned commercial /residential mix this property offers many options. This building is also connected to a 1500 ft.² space also for sale which is currently one level however permitted to go up an additional three stories. (See MLS# 1290924) Together both buildings can be developed into multiple residential or office spaces. Ask the listing realtor for a prospectus that also includes the potential for additional attached townhome dwellings. Opportunity awaits for the smart investor/ developer. Listing Realtor is co owner of the building. (id:56688)
Property details
Coordinates: [47.554486, -52.715897]
Rooms
Basic Calculator
First Mortgage: $372,000
Mortgage insurance premium: $0
Total Financing: $372,000
Rough closing fee (1.5%): ~ $6,975
Total downpayment with estimated closing fee: $99,975
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $14,851 | $178,212 |
| Gross rental income (income/principal ratio) | 3.194% | 38.325% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $582 | $6,984 |
| Vacancy | $743 | $8,911 |
| Management Fee | $1,189 | $14,257 |
| Expense / Income Ratio | 3.92% | 3.92% |
| Cash Flow | $12,339 | $148,068 |
| Net Operating Income (NOI) | $12,339 | $148,068 |
| Capitalization Rate | 2.65% | 31.84% |
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