198 Princess Street,Saint John, NB E2L1K9
Saint John, NB E2L1K9
Description
Premier Uptown Saint John Investment Opportunity. This renovated six-unit brick brownstone combines immediate income generation with long-term appreciation potential in one of the city's most desirable rental markets. Situated in the heart of Uptown, this character-filled asset offers a diversified unit mix that sets it apart from typical multi-family offerings. Historically low vacancy have contributed to stable performance and reliable income generation. Generating over $82,000 in annual rental income, with the potential to exceed $100,000 annually should the executive suite (owner-occupied) be rented The property consists of three one-bedroom units, two bachelor units, and an impressive nearly 2,000 sq. ft. two-floor executive suite, creating a balanced revenue stream across multiple tenant profiles. The smaller units cater to the strong and consistent demand for affordable Uptown rentals, while the executive suite provides the opportunity for premium rental income, or an owner-occupied strategy with substantial rental income from the remaining units significantly offsetting ownership costs. Extensive renovations have modernized the building while preserving the historic brick façade and architectural character that make Uptown properties highly sought after. The executive suite features an open-concept layout, granite island kitchen, built-in wine fridge, spacious office/den, primary suite with walk-in closet and ensuite, and a private rooftop deck offering panoramic views of the Bay of Fundy and Saint John Harbour, creating a truly unique rental offering in uptown Saint John This property offers investors a rare combination of multiple income streams, premium rental potential, strong tenant demand, historic character, and prime location fundamentals. Opportunities to acquire a renovated, mixed-income asset of this calibre in Uptown Saint John are exceptionally limited. All apartments are heat pump heated, and all heat pump units are owned. (id:13843)
Details
| MLS # | NB149647 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 21 |
| Listing Provided By | Royal LePage Atlantic | Chris Gallant |
Features
| SQ Feet | 3,650 |
|---|---|
| Basement | Y |
| Units | 6 |
| Acreage | 0.04 |
| Property View | Ocean view |
Interior
| Cooling | Heat Pump |
|---|---|
| Heating | Heat Pump, Electric |
| Appliances | Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Balcony/Deck/Patio |
|---|---|
| Foundation Details | Concrete |
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 11197 |
|---|
Area Information
| Province | NB |
|---|---|
| City | Saint John |
| Postal Code | E2L1K9 |
| Listing VS Median (in E2L1K9) | |
Price: $1,199,900 low | high Med: $1,199,900 sqft: 3,650 low | high Med: 3,650 $ / sqft: $329 low | high Med: $329 On site: 21 low | high Med: 21 | |
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Learn More About This Property
| Province | NB |
|---|---|
| City | Saint John |
| Postal Code | E2L1K9 |
| Listing VS Median (in E2L1K9) | |
Price: $1,199,900 low | high Med: $1,199,900 sqft: 3,650 low | high Med: 3,650 $ / sqft: $329 low | high Med: $329 On site: 21 low | high Med: 21 | |
 | $1,100,0001 Princess StreetSaint John, NB E2L1J9 |
 | $1,100,0001 Princess StreetSaint John, NB E2L1J9 |
 | $1,100,0001 Princess StreetSaint John, NB E2L1J9 |
