101 Carleton Street Saint John, New Brunswick E2L 2Z2

$1,050,000

An opportunity with serious upside in the heart of Saint Johns City Centre. This multi-unit property at 101 Carleton Street is currently operating as a 7-unit building, with an additional unit already in place offering future potential (buyer to verify). The property features a strong unit mix, primarily 2-bedroom units, appealing to a wide range of tenants. Units 1-4 are currently rented. Rents are as follows: Unit 1 $1,500/month, Unit 2 $1,350/month, Unit 3 $1,450/month, Unit 4 $1,500/month. All tenants pay their own heat/electricity. Additional units with projected rents are: Unit 5 $1,400/month, Unit 6 $1,600/month (this unit is not a legal unit), Unit 7 $1,100/month, Unit 8 $1,000/month. This brings projected gross annual income to approximately $130,800. Annual expenses include property taxes of $13,309, insurance of $2,500, water and sewer of $4,500, garbage removal of $1,586, and snow removal of $800, totaling approximately $22,695 in yearly expenses. This results in a projected net income of approximately $108,105. The building features in-unit laundry, and on-site parking. Located just steps from the hospital, and minutes to uptown Saint John, TD Station, restaurants, and amenities, this is a highly rentable area with consistent tenant demand. While the property would benefit from some TLC, the upside is clear. Whether you're looking to improve and stabilize, or hold long-term, this is a property where the numbers make sense with the right approach. (id:27750)

Property Details

MLS® Number	NB135375
Property Type	Multi-family
Equipment Type	Water Heater
Rental Equipment Type	Water Heater

Building

Appliances	Refrigerator, Stove, Washer, Dryer
Basement Type	Full
Exterior Finish	Brick, Vinyl
Flooring Type	Laminate, Vinyl
Foundation Type	Concrete
Heating Fuel	Natural Gas
Size Interior	6,682 Ft2
Total Finished Area	6682 Sqft
Utility Water	Municipal Water

Land

Access Type	Year-round Access, Public Road
Acreage	No
Sewer	Municipal Sewage System
Size Irregular	418
Size Total	418 M2
Size Total Text	418 M2

https://www.realtor.ca/real-estate/29518267/101-carleton-street-saint-john