Fredericton Real Estate News Blog | Larry Booker

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313 George Street, Fredericton, NB

I just finished uploading this Apartment Building for sale, 313 George Street, Fredericton, NB

5 unit apartment building located in central block of downtown Fredericton. Easy downtown rental featuring 3 one bedroom unit, 1 two bedroom unit and 1 bachelor. Tenants pay own utilities in one bedroom and two bedroom units. Landlord pays for utilities for bachelor. Shared driveway and limited on-site parking Rent: $29,850 Expenses: Insurance 2,447 Snow 294 Repairs 793 Plumbing 419 Other 756 Taxes 5,577 Power 2,000 Total Exp 12,286 Net Income 17,564 Lower front one bedroom apartment ( tenant has been there 10 plus years ). $475/month tenant pays own electricity Middle front one bedroom apartment ( tenant has been there 4 plus years ). $475/month tenant pays own electricity Upper front bachelor apartment ( tenant has been there approx 2 years ). $475/month electricity included Middle back two bedroom apartment ( tenant has been there 4 plus years ). $550/month tenant pays own electricity Lower back one bedroom apartment ( tenant is new ). $575/month tenant pays own electricity Current monthly rent of $2,550/month or $30,600/yr There is a shared driveway. You might be able to park one vehicle at the back but none of the tenants have vehicles. Electrical was upgraded approx 15 to 20 years ago with new panels and disconnects. Owner pay electricity for one unit, approx $2,000/yr. As you can see from the above, this property has absolutely no vacancy problems ( has not been a vacancy in years ) Location, location, location,....