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128-132 Forest Hill Road Fredericton, New Brunswick E3B 4K1

Baseboard Heaters, Hot Water

$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

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John Yerxa
Salesperson

(506) 260-4520
www.yerxateam.com

Exp Realty
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3

Jane Gorman
Salesperson

(506) 471-4612
(506) 455-5841
www.yerxateam.com

Exp Realty
82 Westmorland Street, Suite 406a
Fredericton, New Brunswick E3B 3L3

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