For sale · MLS® 1298154
490 A Gillingham Avenue
Norris Arm, NL, A0G3M0
List price
$389,900
About this propertyMLS® 1298154
Exceptional investment opportunity with endless potential. This well-maintained oceanfront property features a total of six buildings, including three fully furnished cabins and two additional buildings containing five efficiency rental units. The three cabins include two 2-bedroom, 1-bath units and one charming 1-bedroom, 1-bath cabin, currently operated as the popular honeymoon suite. This cozy retreat features a relaxing jacuzzi tub and separate stand-up shower, making it an attractive option for couples seeking a romantic getaway. The two efficiency-unit buildings offer five additional rental accommodations, including two 2-bedroom, 1-bath units and three 1-bedroom, 1-bath units. Unit #3 is fully wheelchair accessible, providing comfortable accommodations for guests with mobility needs. Each rental unit comes fully furnished and equipped with cable TV, Wi-Fi, BBQs, and everything needed to operate a successful nightly rental business. Guests also have access to an on-site laundry facility, while two fully serviced RV hookups provide additional income potential for campers and RV travelers. Perched overlooking the ocean, these accommodations offer breathtaking views and spectacular sunsets. Outdoor enthusiasts will appreciate being just steps from the Trans-Canada Trail, providing direct access to extensive ATV and snowmobile trail networks that stretch throughout the region. All cabins and units are up to date, exceptionally maintained, and in excellent condition. Whether you're looking to expand an existing hospitality business or start a new venture, this property offers tremendous opportunity for future growth and development. Don't miss your chance to own this unique income-generating property. (id:56688)
Specifications
Property details
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The neighbourhood
Norris Arm at a glance
Live market stats for Norris Arm — what's for sale, what it costs, and how it compares to nearby towns.
Homes for sale here
13
Median list price
$349k
Price range
$33k – $940k
Typical build
1994
Average size
2,481 sqft
Where Norris Arm listings are priced
Every active list price in Norris Arm, grouped into bands.
List price, thousands of $ · 13 homes
View as table
| Price band ($) | Listings |
|---|---|
| <200 | 5 |
| 300–400 | 3 |
| 400–500 | 1 |
| 500–750 | 3 |
| 750–1M | 1 |
How Norris Arm compares
Median list price against the next biggest markets — click a row for that area guide.
The essentials
Location, air, flood & taxes
Elevation
5 m above sea level
Air quality now
AQHI 2.09 · Low risk
Grand Falls - Windsor station · updated 2:00 a.m.
Climate
Jan -3° · Jul 23°
normal daily high · RATTLING BRK NORRIS ARM station · 1991–2020
Nearby & drive routes
1 place shown · OpenStreetMap · OSRM
Parks 1
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Estimated monthly payment
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Principal & interest $0 per month
Financing breakdown
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NOI / month
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Cap rate
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Gross yield
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Flip rule of thumb: buy at ≤ 70% of ARV minus repair costs.
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- Call or text416-873-4676
- Emailharis@barki.co
- Office17 Duffy Place, Suite 200, St. John's
Keller Williams Platinum Realty
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