For sale · MLS® 1303568
2 Allandale Road
St. John's, NL, A1B2Z4
List price
$549,900
About this propertyMLS® 1303568
Exceptional opportunity in one of St. John’s most sought-after locations! Ideally situated on the doorstep of Churchill Square, walking distance to downtown St. John’s and minutes from Memorial University, schools, walking trails and countless amenities, this three-unit property offers incredible versatility for investors or owners looking to live in one unit while generating income from the others. This two-storey home features two spacious three-bedroom units and a one-bedroom above-ground lower apartment. The main unit offers three bedrooms, an oversized living room with built-in shelving, a kitchen with a separate dining area and a full bathroom. Large windows fill the living spaces with natural light. The upper three-bedroom unit has a similar layout and is tenant-occupied, with tenants interested in remaining. The lower unit features one bedroom plus a smaller room ideal for an office, walk-in closet or storage. The two vacant units have been cleared in preparation for sale, offering a purchaser the flexibility to move in or explore rental opportunities immediately. Whether as an investment or a home with additional income, the possibilities are plentiful. The property offers exceptionally large shared storage and a spacious common laundry room with one washer and dryer plus connections for a second set. Owned by the same family since 1999, the property has benefited from continued maintenance and significant improvements, including a 910-litre double-bottom steel oil tank installed in 2024, roofing and chimney work in 2025, all Kitec plumbing removed in 2026, a professional electrical review in 2026, and furnace inspection and cleaning in July 2026. Professional home inspection completed September 2026; supporting documentation available for review. Backing onto a walking trail in an established, family-friendly neighbourhood, 2 Allandale Road presents a rare opportunity to own a substantial multi-unit property in an exceptional central location. (id:56688)
Property details
Coordinates: [47.570966, -52.721282]
Rooms
Basic Calculator
First Mortgage: $439,920
Mortgage insurance premium: $0
Total Financing: $439,920
Rough closing fee (1.5%): ~ $8,249
Total downpayment with estimated closing fee: $118,229
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,906 | $46,872 |
| Gross rental income (income/principal ratio) | 0.710% | 8.524% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $688 | $8,256 |
| Vacancy | $196 | $2,344 |
| Management Fee | $313 | $3,750 |
| Expense / Income Ratio | 17.61% | 17.61% |
| Cash Flow | $2,711 | $32,532 |
| Net Operating Income (NOI) | $2,711 | $32,532 |
| Capitalization Rate | 0.49% | 5.92% |
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