242 Germain Street new Save Request In-Person Tour Request Virtual Tour
Saint John,NB E2L2G6
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID NB123330
Year Built 1901
Lot Size 1,097 Sqft
Acres 1097.92
Source New Brunswick Real Estate Board
Property Description
Solid, well-maintained brick triplex on a sunny corner lot in Saint Johns vibrant uptown core. Located on prestigious Germain Street, just steps from Queen Square Market, restaurants, and shops, this turn-key investment combines strong income with low maintenance. All three units are self-contained with private laundry. Tenants pay their own heat and lights. The building includes a separate water meter and one rare off-street parking space. The master unit features a heat pump and a modern kitchen with stainless appliances and a dishwasher. Large corner windows bring in excellent natural light. The top and bottom units will be delivered vacant. The top unit was previously rented at $1,400/month plus utilities. The middle unit is currently rented at $1,400/month plus utilities. The bottom unit was previously rented at $1,850/month plus utilities. 2024 actual expenses total $13,292.18 (insurance $1,621; water/sewer $1,727.76; electricity $2,318; property tax $7,624.59). Total income at market rents is $55,800 annually, with a net operating income of $42,507representing a cap rate of approximately 7.33%. A prime location and a strong investmentideal for both owner-occupiers and long-term buy-and-hold investors. Vendor is a licensed REALTOR® in the province of New Brunswick. (id:24570)
Location
Province NB
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters,Heat Pump,
Cooling Heat Pump
Flooring Laminate,Vinyl,Hardwood
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Story 3
Sewer Municipal sewage system