Property Details

42 Somerset Street, Saint John, New Brunswick, E2K2X4

42 Somerset Street, Saint John, New Brunswick, E2K2X4 (ID NB069109)
Representative
Peter Coughlan portrait
Peter Coughlan
Sales Representative
Royal LePage Atlantic Brokerage - Saint John*
Cell: 506-608-4866

$1,625,000 - For sale

ID#:NB069109

This is your opportunity to acquire a well maintained, stable tenancy, 12 unit apartment building in a prime location in Saint Johns highly desired Millidgeville area. The property offers 11, two bedroom units, and a single one bedroom unit with ample parking onsite. See attached multi-media presentation. This property sits on slightly over of an acre on Somerset Street, which links Uptown Saint John and the harbour front area, with the hospital and university campuses. All units are large & bright, with the two bedroom units measuring approximately 850 square feet. There is a well kept coin-operated laundry room, and a small storage barn outside. All windows were replaced with high end, energy efficient thermal windows in 2019 (a $40,000 capital expenditure). See the attached supplements which contain the rent roll and financials. The property has a Market Cap Rate of 4.93%. Pride of ownership is evident when entering, which leads to long term tenants. The vacancy rate on this property has been zero for the past 10 year, other than for painting or renos. Theyve been able to rent prior to tenants moving out. This is one of the few local income properties which need no improvements made on day one. All measurements are to be confirmed by the buyer prior to close. Limited viewings available to accommodate tenants. Fully rented, month to month tenants. (id:2471)

Location DescriptionTop of Somerset Street on the right just past the intersection of Magazine Street.

Virtual Tour
Property Details
  • Property Address:42 Somerset Street, Saint John, New Brunswick, E2K2X4
  • Property Type:Other
  • Lot Size:1011.7
  • Acreage:1011.7 m2
  • Access:Year-round access
Structure Details for 42 Somerset Street, Saint John, New Brunswick, E2K2X4
  • Heating Type:Baseboard heaters
  • Rental Equipment:Water Heater
Amenities for 42 Somerset Street, Saint John, New Brunswick, E2K2X4 Level lot, Landscaped
Representative
Peter Coughlan portrait
Peter Coughlan
Sales Representative
Royal LePage Atlantic Brokerage - Saint John*
Cell: 506-608-4866
Request Information
Mortgage Calculator Inputs
Mortgage Calculator Results
Note: All calculations for informational purposes only, and should be verified.
Get Pre-Approved

Listing Office: SUTTON GROUP AURORA REALTY LTD. (S222)

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association. This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.


Loading...

42 Somerset Street, Saint John, New Brunswick, E2K2X4

* not intended to solicit those currently under contract. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind.
The out of province listing content on this website is not intended to solicit a trade in real estate. Any consumers interested in out of province listings must contact a person who is licensed to trade in real estate in that province.
The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
By using our site, you agree to our Terms of Use
Translate »