2503-2507 102 Route , Lincoln

$329,900 / MLS® #:NB013575

$1485/mo*

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9 Unit Income Property Multi-unit property for sale consisting of two buildings on the same PID. One building has 7 units (2503 Route 102) and the second building (2507 Route 102) is an over and under duplex. There are 5 one bedroom units and 4 two bedroom units for a total of 9 units. All units are occupied. All the units in the 7 unit building have their own electrical entrances however one unit does share the electricity with the common areas and as such, electricity is included in that rental amount. Four units in the 7 unit building also have their own hot water tank while the other three units share one hot water tank. This set up helps reduce electricity costs for the landlord since tenants pay their own heat, lights and hot water. The duplex is on one electrical meter and has one hot water tank so utilities are included in the rent for that two unit building. The property has its own well and septic system so there is no additional expense for water usage. The buildings are approx. 60 years of age. The large parking lot and driveway is paved and accommodates multiple vehicles for the convenience of the tenants. This property is located close to the Fredericton Airport so not far from Fredericton and Oromocto so you have two markets to draw upon for tenants. Very affordable units for tenants generating annual revenue of $66,000.00. A great little investment property! The vacant lot next door is also available for sale. (id:10452)

Property Details

Property Type Multi-family
Square Feet
Maintenance N/A
Days On Our Website 113
Basement
Kitchens
Lot Dimensions 2830sq.metres|1/2 - 1.99 acres
Pool N/A
Area Lincoln
Air Conditioning N/A
Heating Electric - Baseboard heaters, Hot Water
Exterior Vinyl
Sewers Septic System
Water Drilled Well, Well

Listing Office: Noreen Barwise Realty Ltd.



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