MLS®: NB002454 Status: For sale

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$349,900
Location:

123 Logue Road, Minto New Brunswick, E4B3X3

123 Logue Road, Minto New Brunswick
Description:
Opportunity knocks with this 8 unit apartment building, sitting 30 minutes from Fredericton. Completely renovated inside/out since 2013. The building houses mature residents and has NO vacancy. There are four two bedroom units and four one bedroom units, all updated and comfortable for the tenants. Buildings like this are hard to find in out-skirt areas, creating a demand for them with the aging population. Each unit has its own ductless heat pump unit with air conditioning. Best of all, this building has a net net on rent of $40,000 per year after expenses, yielding an amazing 12% cap rate. If you are just starting or adding to the fleet, this is one building that should not be overlooked. Units 2 and 7 (2 bdrms) and units 3 and 5 (1 bdrm) are available for viewing. All units are in the same great condition and the remaining four can be viewed upon an accepted offer to purchase. Building dimensions/square footage is approximate and should be verified by the purchaser. (id:2471)
Property:
Type: Multi-family
Lot Dimensions: 2.17 AcresAcreage: 2.17 Acres|1 - 3 acres
Waterfront Type: Waterfront
Sewer: Municipal sewage systemWater: Drilled Well, Well
Access: Year-round access
Structure:
Age: 1976
Square Footage: 6000
Heating: Baseboard heaters, Heat Pump
Heating Type: Electric
Cooling Type: Heat Pump
Exterior: Vinyl
Flooring: Carpeted, Laminate
Roof Type: Asphalt shingle
Foundation Type: Concrete, Concrete Slab
Features:
Not landscaped     
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123 Logue Road, Minto New Brunswick

EXIT Realty Platinum

Listing Office: RE/MAX East Coast Elite Realty

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