128-132 Forest Hill Road Fredericton, New Brunswick E3B 4K1
$599,900
KNOCK KNOCK ! WHOS THERE? OPPORTUNITY! WHO ARE YOU? IM YOUR OPPORTUNITY FOR A FUTURE MULTI UNIT PROJECT TO LAUNCH YOU INTO EARLY RETIREMENT, THATS WHO! This 5 unit building on the busy Forest Hill Road, even though running as an income business, is also currently babysitting valuable land of 2290 SQ. M. for an innovative futuristic residential project with river views. Next door on the adjacent lot, a 32 unit project is currently under construction; just west of that a 130 unit project has been approved for construction. With the vacancy rate said to be near zero and record low interest rates, many new units are under construction throughout the city trying to meet demand. As an investor, look at it this way: as a buy and hold strategy, the cash flow helps cover the property expenses until youre ready to build; or you sell or partner with a developer when time is right; or you just say start the dozer, refinance other assets and make it happen. Currently R4 zoning, rezoning required for more units. The location is hotobviously by the investment in the adjacent projects. If youve been waiting for that opportunity, better strongly consider KNOCK KNOCK! (Financials are 2019) (id:33231)
Property Details
| MLS® Number | NB051533 |
| Property Type | Multi-family |
| Equipment Type | Water Heater |
| Features | Treed, Sloping, Balcony/deck/patio |
| Rental Equipment Type | Water Heater |
| Structure | Shed |
Building
| Appliances | Refrigerator, Stove, Washer, Dryer |
| Constructed Date | 1974 |
| Exterior Finish | Colour Loc, Vinyl |
| Fire Protection | Smoke Detectors |
| Flooring Type | Carpeted, Vinyl, Wood |
| Foundation Type | Block, Concrete |
| Heating Fuel | Oil |
| Heating Type | Baseboard Heaters, Hot Water |
| Roof Material | Asphalt Shingle |
| Roof Style | Unknown |
| Total Finished Area | 6000 Sqft |
| Utility Water | Municipal Water |
Land
| Access Type | Year-round Access |
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Irregular | 2290 Sq M. |
| Size Total Text | 2290 Sq M.|1/2 - 1.99 Acres |
https://www.realtor.ca/real-estate/22595455/128-132-forest-hill-road-fredericton
Interested?
Contact us for more information
John Yerxa
Salesperson
www.yerxateam.com
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3
Jane Gorman
Salesperson
(506) 455-5841
www.yerxateam.com
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
The Real Estate Board of Fredericton Area Inc.
Exp Realty
January 12 2021 07:22:50
