49
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$579,900
Est. payment /mo
1,097 Sqft Lot
New
242 Germain Street Saint John, NB E2L2G6
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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
Listed by eXp Realty