155 Marine Drive, Marystown, Newfoundland & Labrador, A0E 2M0

$1,599,900

MLS® # 1287701

Investment For Sale In Marystown, Newfoundland and Labrador

$1,599,900

Property Information:

Very well maintained 16 unit Apartment Building that consists of 8 two-bedroom (686 sq ft) and 8 three bedroom (834 sq ft) apartments that have historically been occupied by local mining and fishery companies and include internet, utilities and furnishings including oven, refrigerator, washer & Dryer. Property was built in the mid-1970's. Recent interior renovations have the property with an effective age of 15 years. The .57 acre lot is zoned "Residential Traditional Community" and backs onto the rocky coastline of Creston Inlet. Paved parking with some landscaping and a detached building used for main electrical service (800 amp main panel). 3576 sq ft on level one, two & three and 3430 sq ft in partially above ground basement for a total of 14,158 sq ft. Based on the current pro-forma statement, this property is projected to achieve a capitalization rate (CAP Rate) of 7.4%, reflecting its potential return on investment relative to the purchase price. (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Residential Commercial Mix
  • Floor Space: 14158 sqft
  • Flooring Type: Laminate, Carpeted
  • Heating Type: Baseboard heaters
  • Heating Fuel: Electric

Property Features:

  • OwnershipType: Freehold
  • Property Type: Multi-family
  • Amenities Nearby: Shopping
  • Built in: 1975
  • Floor Space (approx): 14158 Square Feet
  • Irregular: Yes
  • Landscape Features: Landscaped
  • Lot Size: .6 Acre
  • Zoning: Res Traditional

Courtesy of: RE/MAX Infinity Realty Inc.

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This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.