Property Description

This could be the perfect investment property youve been searching for! Located at the high-exposure corner of Charlotte Street and Union Street in Uptown Saint John, this solid 3-storey brick commercial-residential mixed-use building (circa 1867) offers both historic charm and modern upgrades. Half the structure was rebuilt, with a full renovation completed in 2019, followed by further capital improvements totaling $42,000 in 2021. Just one block from the historic Saint John City Market, the property sits at the gateway to the North of Union project, waterfront redevelopment, and the Uptown Pedway Systema prime location for long-term value and strong rental demand. Commercial Unit: $2,300/month Four Residential Units Upstairs: 1-bedroom: $1,300/month 2-bedrooms: $1,400 and $1,600/month One 2-bedroom unit is currently vacant, with market rent potential above $1,500/month Total Annual Rental Income (fully leased): $97,200 Total Annual Expenses: $22,955 Net Operating Income (NOI): $74,245 Also includes: Private entrances, individual electric panels, and rented heat pumps for each unit In-unit 3-piece bathrooms and laundry Hot water tanks are owned Fire-rated doors and two stairwells Walkable to transit, shopping, and municipal parking Gross floor area is based on appraisers report; buyers are advised to verify all measurements independently. (id:7434)