Located in the heart of Uptown Saint John, this four-unit investment property offers an opportunity to own a well-maintained building in one of New Brunswick's fastest-growing urban markets. Uptown continues to attract new residents thanks to major investments in the city, including the Fundy Quay waterfront development, growing employment opportunities, expanding restaurant and retail options, and the area's unique blend of historic charm and modern amenities. As demand for housing continues to increase, properties like this are well positioned to benefit from strong rental demand and future rental growth. One of the standout features of this property is the ample off-street parking, with space for more than five vehicle, an increasingly rare find in the Uptown area. Investors will also appreciate that each of the four units has separate electrical services, allowing the ability for tenants to pay their own heat and lights, helping to keep operating costs low. The main level features a spacious two-bedroom unit that could serve as an excellent owner's unit or premium rental. This unit offers a large kitchen, dining room, large living room, a full bath, and a primary bedroom with ensuite and walk in closet. The second floor contains two more units, each with a kitchen, living room, two bedrooms and bathroom. The lower level offers a bright and inviting one-bedroom apartment, while the remainder of the basement provides valuable storage and shared laundry facilities. The property has been well cared for over the years and is occupied by tenants that would be happy to remain. With a current net income of $39,154 and potential for future income growth, this is an excellent opportunity for both seasoned investors and those looking to live in one unit while the remaining apartments help offset ownership costs. Opportunities to acquire a solid four-unit building with strong income, parking, separate utilities, and a prime location do not come along often. (id:4069)
Address
152-154 Mecklenburg Street
List Price
$439,900
Property Type
Multi-family
Type of Dwelling
Fourplex
Transaction Type
Sale
Area
New Brunswick
Sub-Area
Saint John
Floor Area
3,456 Sq. Ft.
Lot Size
7319 Sq. Ft.
MLS® Number
NB142697
Listing Brokerage
RE/MAX Professionals
Basement Area
Full (Partially finished)
Postal Code
E2L1R5
Ownership
Freehold
Appliances
Refrigerator, Stove, Washer, Dishwasher, Dryer
Heat Source
Electric
Heat Type
Baseboard heaters
Foundation Details
Concrete
Number Of Floors In Building
2
Water Source
Municipal water
Access To Property
Year-round access, Public Road
Sewer
Municipal sewage system
