460 City Line, Saint John, New Brunswick

460 City Line, Saint John, New Brunswick (ID NB072796)
Listing Representative

$2,390,000 - For Sale

ID#:NB072796

Welcome to 460 City Line, a lovely 12-unit building on Saint John’s scenic West Side with a view of the Bay of Fundy. Great location on the bus route and only minutes to the Irving Nature Park, Bay Shore Beach, and Uptown. The building was supposed to have closed this month but the due to personnel reasons the buyer was unable too close. This like new building has been completely overhauled from top to bottom, not a single detail has been overlooked. All 12 units have undergone extensive renovations and feature all new exteriors, windows, doors, main entrances and hallways as well as a new interiors with new kitchens, in suite laundry, bathrooms, windows, patio doors, electrical, plumbing, lighting, flooring and heat pumps . The building consists of eleven 2-bedroom units and one 1-bedroom unit, all with their own in-suite laundry. All units use electric heat with their own meter and tenants are responsible for their own heat and lights. Pride of ownership is evident throughout. With 100% occupancy at market rents on one year leases and a net operating income of $149,061, this building is a welcomed addition to any portfolio. The Tenants have been given a rental increase notice of $100 per unit taking effect May 1st. The building has been approved for a CMHC mortgage of $1,850,000 on a 40 year amortization and it would be very quick and easy for a buyer to qualify for the pre-approval.

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Property Details
  • Property Address:460 City Line, Saint John, New Brunswick
  • Property Type:Multi Family
  • Taxes:$14,708 (2022)
Structure Details for 460 City Line, Saint John, New Brunswick
  • Structure Type:9 - 12 Units
  • Floor Space:10217 SqFt
  • Exterior Type:Brick, Vinyl Siding
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460 City Line, Saint John, New Brunswick

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