Landlords know that location, location, location is key to attracting long-term tenants. This triplex, with two residential units, and one commercial space, is located in the heart of the north end on busy Lansdowne Avenue right across the street from Lansdowne Plaza. The Saint John Transit bus stop, located right outside the front door, is a bonus for tenants. And morning coffee at Tim Hortons is just across the street. Additionally, there is room for several cars to park in the rear of the building with access off Dufferin Avenue. The property consists of a lower residential unit with three bedrooms, while the upper unit has five bedrooms. There is a shared laundry room. Opportunity abounds for the new owner to place a new commercial tenant in the attached two-room, 550 sq. ft. storefront, (or commercial space) with its own powder room and sign-rack near the separate entrance. This could be a great live/work arrangement for entrepreneurs or professionals seeking office/retail space. The residential units are currently being operated as shared living spaces. An excellent buy for a handy-man as the property needs some TLC, but its a money-maker. Shrewd investors will appreciate the 10.66% percent cap rate before adding the commercial space rental. (id:51532)
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