For sale · MLS® 1303052
104 Larkhall Street
St Johns, NL, A1B2C6
List price
$479,900
About this propertyMLS® 1303052
8 Bedrooms, 3 Bathrooms!! Prime Location Meets Exceptional Cash Flow! This well-maintained, multi-level two-apartment home is steps from Memorial University (MUN), the Health Sciences Centre, Avalon Mall, and scenic walking trails. Currently operating with significant income potential, this property is an investor's dream or the perfect house hack. Features four independent entrances across multiple levels, offering seamless potential to convert the property into a four-unit rental. Main Unit ($4,040/mo): Fully rented and spacious. Includes six bedrooms, two full bathrooms, laundry, a large kitchen, dining, and living area. Dual independent entrances on separate levels allow for an easy split into two distinct units. Ground-Level Apartment ($3,000+/mo): Currently operating as a highly successful Airbnb. Features two bedrooms, one full bathroom, independent laundry, and an open-concept living/kitchen area. Sliding patio doors lead out to a beautiful wrap-around deck. Bonus Space: Includes an undeveloped basement area, perfect for extra tenant storage or future development into additional living space. Exterior: Situated on a quiet street with a three-car paved driveway. Whether you are looking to expand your portfolio or live in one unit while letting the others pay your mortgage, this versatile property offers unmatched flexibility and location. (id:56688)
Property details
Coordinates: [47.568962, -52.748999]
Rooms
| Basement | Storage Utility room Den | 25.00 x 30.00 null 12.50 x 16.60 null 10.60 x 16.00 null |
| Second level | Bedroom Bedroom Living room Kitchen Laundry room Bedroom | 12.10 x 13.00 null 9.60 x 12.10 null 13.00 x 17.80 null 11.70 x 12.40 null 5.70 x 8.40 null 12.50 x 13.70 null |
| Main level | Bedroom Bedroom Primary Bedroom Dining room Living room Kitchen | 8.10 x 10.60 null 10.30 x 10.60 null 12.10 x 13.00 null 10 x 12.10 null 12.10 x 20.00 null 13 x 14 null |
Basic Calculator
First Mortgage: $383,920
Mortgage insurance premium: $0
Total Financing: $383,920
Rough closing fee (1.5%): ~ $7,199
Total downpayment with estimated closing fee: $103,179
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $4,208 | $50,496 |
| Gross rental income (income/principal ratio) | 0.877% | 10.522% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $600 | $7,200 |
| Vacancy | $211 | $2,525 |
| Management Fee | $337 | $4,040 |
| Expense / Income Ratio | 14.26% | 14.26% |
| Cash Flow | $3,061 | $36,732 |
| Net Operating Income (NOI) | $3,061 | $36,732 |
| Capitalization Rate | 0.64% | 7.65% |
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