86-88 Lansdowne Avenue, Saint John, New Brunswick E2K 2Z8

Located directly across from Tim Horton's on Lansdowne Ave. Access for parking is around the block off of Dufferin Ave. through the parking lot of Thistle Curling Club. 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. The commercial space has been left vacant to allow the new owner to place a new commercial tenant in the attached 550 sq. ft. storefront 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. The building needs considerable work to bring it up to city standards and needs to be returned to its original zoning as two apartments and one commercial space. (id:27476)

This triplex property is being offered for sale with freehold ownership. Landlords understand the importance of location in attracting long-term tenants, and this property is ideally situated in the heart of the north end on bustling Lansdowne Avenue, directly across from Lansdowne Plaza. The convenience of the Saint John Transit bus stop right outside the front door, as well as a nearby Tim Hortons, adds to the appeal for potential tenants. In addition, there is ample parking space for several cars at the rear of the building, accessible from Dufferin Avenue.

Comprising of two residential units and one commercial space, the property features a lower unit with three bedrooms and an upper unit with five bedrooms, along with a shared laundry room. The attached 550 sq. ft. storefront offers an opportunity for a new owner to secure a commercial tenant, with its own powder room and sign-rack near the separate entrance. This space could be an attractive option for entrepreneurs or professionals seeking office/retail space, providing a great live/work arrangement.

Currently, the residential units are being operated as shared living spaces, presenting an excellent opportunity for a handy-man to add value through some necessary renovations. Despite needing some tender loving care, the property offers great potential for generating income, with a 10.66% cap rate before factoring in the commercial space rental. This makes it an appealing investment for astute investors.

With a land size of 0.14 acres, the property is located at 86-88 Lansdowne Avenue in the city of Saint John, New Brunswick. The building exterior is finished with vinyl and wood, and it is heated using electric baseboard heaters. The property is a two-story triplex, offering a versatile opportunity for the new owner.