49 Quinton Avenue

INVESTMENT ALERT!! Here is your chance to own a 10 Unit Apartment building in probably the most desirable area of Saint John West. This building is an ICON of the Westside and tucked away in a residential neighbourhood. With the City Transits New Flex System in place this is a great home for tenants without vehicles. There is currently a 4 bay garage (dirt floor), and 3 lots total adding to the investment. There are some long term tenants and some newer ones. Building has a new Roof and Propane Furnace. The building consist of 8 One bedroom plus den units these can be used as a second smaller bedroom as well and 2 Three bedroom units on the Top Floor. Current Rent Roll is 1+Den units = $650,$1200,$1035,$790,$1035,$1200,$790,$1250 ( As you can tell there is room for increases). 3 Bedroom units = $1400,$2000 with a total Rent Roll currently at $136,200 / YEAR, plus $2200 in laundry income... If all units were at Market Rents Revenue could be $165,400. Operating Expenses are Property Tax $13,725, Insurance $5292, Electricity $3730, Garbage $3105, Snow Removal $1100, Water/Sewage $2877, Heat $13,773. Total Operating Expenses =$43,602 with a NET of $94,798. Extra Large Lot could potential be used for future development. (id:54626)