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2503-2507 102 Rte, Lincoln
9 Unit Income Property Multi-unit property for sale consisting of two buildings on the same PID. One building has 7 units (2503 Route 102) and the second building (2507 Route 102) is an over and under duplex. There are 5 one bedroom units and 4 two bedroom units for a total of 9 units. All units are occupied. All the units in the 7 unit building have their own electrical entrances however one unit does share the electricity with the common areas and as such, electricity is included in that rental amount. Four units in the 7 unit building also have their own hot water tank while the other three units share one hot water tank. This set up helps reduce electricity costs for the landlord since tenants pay their own heat, lights and hot water. The duplex is on one electrical meter and has one hot water tank so utilities are included in the rent for that two unit building. The property has it’s own well and septic system so there is no additional expense for water usage. The buildings are approx. 60 years of age. The large parking lot and driveway is paved and accommodates multiple vehicles for the convenience of the tenants. This property is located close to the Fredericton Airport so not far from Fredericton and Oromocto so you have two markets to draw upon for tenants. Very affordable units for tenants generating annual revenue of $66,000.00. A great little investment property! ***Total finished square footage to be verified by purchaser***
- MLS® #NB022845
- Square Footage7,275
- Land Size2830sq.metres, Cleared, Landscaped, Level | 0.5 -0.99 Acres
- Year Built1958
- TypeMulti Family
- Sub-Type9 - 12 Unit
- ParkingLarge paved parking lot and driveway accommodates multiple vehicles
- Lot Description2830sq.metres, Cleared, Landscaped, Level
- RoofAsphalt Shingle
- Date ListedApril 30th, 2019
- Address2503-2507 102 Rte
- SubdivisionB3 - Lincoln
- Postal CodeE3B 7E6
- InteriorCeramic, Cushion, Laminate
- Interior FeaturesFireplace(s)
- HeatingBaseboard, Electric, Hot Water
- Has BasementYes
- BasementBlock, Concrete, Unfinished
- # of Stories2
- ElementaryLincoln Elementary Community School (K-5)
- MiddleHarold Peterson Middle School (6-8), Ridgeview Middle School (6-8)
- HighOromocto High School (9-12)
- Listing AgentMichele Morris
- Listing OfficeNoreen Barwise Realty Ltd.
The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) program of The Real Estate Board of the Fredericton Area, Inc . The Detailed Information Sheet includes the name of the participating listing office. Information is deemed reliable but not guaranteed. ©2014 Listings are property of The Real Estate Board of the Fredericton Area, Inc.