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128-132 Forest Hill Road

$599,900

128-132 Forest Hill Road
Fredericton, New Brunswick

MLS® Number: NB051533
Multi-family
Baseboard Heaters, Hot Water

Description

5 unit building sitting on 2290 sq. m. lot consisting of 1-5 bedroom rent $2150, 2-4 bedrooms rents $1800 each, 1-3 bedroom rent $1150, and a 2 storey loft unit rent $1200 with sun bbq deck at back of building overlooking river which is 1 bedroom but could be 2 (perfect owner unit). The 3 bed unit has very large bedrooms just became vacant and renos starting soon, rent increase possibility. There are 3 power meters: 1 for a 3 bed, 4 bed and loft; 1 for 4 bed; 1 for 5 bed. Landlord provides heat, lights, internet, and periodic cleaning service. Very close to 2 universities, on bus route, near all amenities. A 32 unit is under construction directly beside this, which is next to a 130 unit project recently approved for micro boutique units. All along this section of Forest Hill Road are many multi unit buildings ranging from 2 to 24+ units, tenant mix mostly young working professionals and students. Currently R4 zoning. Great future large scale multi-unit project location possibilities. Financials are 2020, Cap Rate about 5.9%. Historic low interest rates and low vacancy rates present an opportunity for a strong future financial position. (id:31866)

Property Summary

Property Type

Multi-family

Building Type

Style

Land Size

2290 Sq M.|1/2 - 1.99 acres

Interior Size

Sq ft

Year Built

1974

Neigbourhood

Skyline Acres

Property Details

MLS® Number NB051533
Property Type Multi-family
Neigbourhood Skyline Acres
Equipment Type Water Heater
Features Treed, Sloping, Balcony/deck/patio
Rental Equipment Type Water Heater
Structure Shed

Building

Appliances Refrigerator, Stove, Washer, Dryer
Constructed Date 1974
Exterior Finish Colour Loc, Vinyl
Fire Protection Smoke Detectors
Fireplace Present No
Flooring Type Carpeted, Vinyl, Wood
Foundation Type Block, Concrete
Heating Fuel Oil
Heating Type Baseboard Heaters, Hot Water
Roof Material Asphalt Shingle
Roof Style Unknown
Total Finished Area 6000 Sqft
Utility Water Municipal Water

Land

Access Type Year-round Access
Acreage No
Sewer Municipal Sewage System
Size Irregular 2290 Sq M.
Size Total Text 2290 Sq M.|1/2 - 1.99 Acres

https://www.realtor.ca/real-estate/22595455/128-132-forest-hill-road-fredericton

Interested?

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John Yerxa
Salesperson

(506) 260-4520
www.yerxateam.com

Exp Realty
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3

Jane Gorman
Salesperson

(506) 471-4612
www.yerxateam.com

Exp Realty
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3

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