80 Duke Street

About this property

An exceptional opportunity for investors or house hackers in the heart of Uptown Saint John! This well-positioned four-unit property offers a strong combination of existing income, rental upside, and a location tenants will love. Three units are currently rented at $975, $1,100, and $1,500 per month, while the fourth unit is vacant and ready for its next occupant, and was previously rented for $1,700 per month. The vacant unit creates a fantastic opportunity for an owner-occupier looking to offset their mortgage, or for an investor to select their own tenant and immediately take advantage of current market rents. One of the biggest advantages of this property is its properly separated utilities. Each unit has its own electric meter, hot water tank, and electric baseboard heating, with tenants responsible for their own utilities. This setup helps keep operating expenses predictable and makes the property especially attractive from a cash-flow perspective. Three of the four units also feature private laundry. The location is hard to beat. Just steps from Germain Street, residents can walk to restaurants, bars, shops, the revitalized waterfront and boardwalk, and the many events and attractions Uptown Saint John has to offer. Adding even more value are four off-street parking spaces, a rare and highly desirable feature in this part of the city. With four units, separately metered utilities, off-street parking, strong existing rents, and the flexibility of a vacant unit, this is a compelling opportunity to add a well-located income property to your portfolio or start building one through house hacking. **Rental Income Disclosure:** The advertised $63,300 in annual rental income represents potential income at full occupancy, including an estimated $1,700/month for the currently vacant unit. Actual rental income from the three occupied units is $42,900 annually. (id:67706)

Details

Property type

Multi-family

Building type

Fourplex

Ownership

Freehold

Units

4

Living area

6,300 sq ft

Lot size

314

Heating

Heat Pump, Baseboard heaters, Electric

Cooling

Heat Pump

Foundation

Concrete

Exterior

Wood, Vinyl

Flooring

Hardwood

Appliances

Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave

Sewer

Municipal sewage system

Annual taxes

$5,252

MLS® number

NB147377