Welcome to 566 Route 111, a fully rented triplex that blends modern upgrades with excellent investment potential in a serene rural setting. This property has undergone extensive renovations, ensuring both comfort and value. The top unit is a bright, completely updated 3-bedroom apartment featuring brand-new flooring, trim, fixtures, and a stylishly redesigned kitchen and bathroom. It currently rents for $1,700 per month with heat and lights included. The middle unit, which is identical in layout to the top floor, presents an exciting opportunity to update and increase its rental income, as it is currently rented at $1,300 per month, also with heat and lights included. On the lower level youll find a coin-operated laundry and a storage area, along with a beautifully renovated 1-bedroom unit boasting fresh flooring, trim, fixtures, and a modern kitchen and bath, renting for $1,300 per month with utilities included. All three units are equipped with energy efficient mini-split heat pumps for year-round comfort. The property also offers a private yard, perfect for entertaining, along with close proximity to St. Martins, SJ Airport, east Saint John, Quispamsis, and several nearby lakes, providing an ideal balance of rural charm and urban convenience. With a gross annual income of $52,600 and operating expenses of just $10,454, this property delivers a net income of $42,146, making it a lucrative investment opportunity. New Gravel in Driveway. Dont miss out. (id:4069)
Address
566 Route 111
List Price
$489,900
Property Type
Multi-family
Type of Dwelling
Triplex
Transaction Type
Sale
Area
New Brunswick
Sub-Area
Willow Grove
Floor Area
2,300 Sq. Ft.
Lot Size
0.63 Sq. Ft.
Year Built
1967
MLS® Number
NB142145
Listing Brokerage
RE/MAX Professionals
Postal Code
E2S1M9
Ownership
Freehold
Features
Balcony/Deck/Patio
Appliances
Refrigerator, Microwave, Stove, Washer, Dryer
Heat Type
Baseboard heaters, Heat Pump
Cooling Features
Heat Pump
Foundation Details
Concrete
Other Structures
Shed
Water Source
Drilled Well, Well
Access To Property
Year-round access, Public Road
Sewer
Septic System
