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UA-63551844-1
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Its exterior displays scalloped cedar shingles, stained glass, bay and hexagonal windows, dentils, double entry doors, and a copper capped turret. Within walking distance of King Square and the City Market, the property offers over 6,000 sqft of living space with high ceilings, working fireplaces, in floor heating, and well preserved woodwork. The owners unit exceeds 2,800 sqft and includes four bedrooms, three bathrooms, hardwood flooring, two fireplaces, a finished basement suited to study or recreation, and a rear shed with a workshop, a layout that could rent for approximately $2,500 per month. Three additional rental units, two two bedroom apartments and one one bedroom apartment, retain character through hardwood or softwood flooring, fireplaces, French doors, generous bedrooms, and detailed moldings. All units are separately metered with long term tenants in place. Current rents total roughly $89,400 annually, while estimated expenses of $10,800 for heat, $450 for the house meter, $6,761 for taxes, $2,640 for water and sewer, and $6,222 for insurance produce approximate annual costs of $26,873 and an estimated net income of $62,527, offering a rare chance to acquire a landmark with lasting appeal. 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The property is currently tenanted with a restaurant occupying the first and second floors, generating $5,500\/month in rent. The tenant is responsible for utilities (heat, power, water & sewer) and equipment maintenance, providing investors with a stable and attractive income stream. This 4-storey building offers approximately 1,700+ sq. ft. per level (approximate, to be verified). The first and second floors are zoned commercial, while the third and fourth floors are zoned residential, offering excellent potential for future residential development to increase overall returns. Any change of use or rezoning is subject to municipal approvals, allowing investors multiple long-term strategies. Situated on King Street in Uptown Saint John, this property benefits from a highly desirable urban location surrounded by major residential developments nearing completion. These projects are actively transforming the area, increasing population density, demand, and long-term property values. The property includes access and parking from Germain Street.Any chattels and\/or equipment are to be confirmed in the Agreement of Purchase and Sale. secure a high-performing investment with immediate income and future upside in one of the most active growth corridors. Definitely worth a lookbook your showing appointment today. 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