480 Westmorland Street Fredericton, NB E3B 3M9
Listing Courtesy of: NEW BRUNSWICK REAL ESTATE BOARD / Exit Realty Advantage / Francine Comeau

  480 Westmorland Street Fredericton, NB E3B 3M9

Active (14 Days)
$549,900

Description

Opportunity Knocks! Located in the center of town this 3-unit building could be a 4 unit, as the retail store has been taking out you can add as an extra located on the main level, a laundry room in the lower level with coin operated machine . There are three apartment units (two 2-Bedroom units and a 1-Bedroom unit).
Rent , there are no leases all tenants are now on a month to month
Apt.# 1 $1300.00 on monthly lease
Apt.#2 $1100 00 
Apt.#3 (21 years tenant) pays $800.00 but easily increases to 1000.00 by new owner.
Every unit can be increased to generate a mush higher yearly
Both 2 bedrooms could be rented at $1,500 and the one bedroom at $1000
Tenants are long time tenant, for 9 years for one of the 2 bedroom and 21 years for the 1 bedroom 
Increasing the rent to closer to todays market the total yearly rent would be $48,000.00

MLS #:
NB101569
Taxes
$8,303(2024)
Lot Size
3,929 SQFT
Type
Multifamily
Year Built
1940
County
Fredericton

Listed By

Francine Comeau, Exit Realty Advantage
Source
NEW BRUNSWICK REAL ESTATE BOARD
Last checked Jun 21 2024 at 3:29 AM GMT-0400
Bathroom Details
Heating and Cooling
  • Oil
  • Forced Air
Basement Information
  • Fully Finished
Flooring
  • Wood
  • Carpet
Exterior Features
  • Vinyl
  • Roof: Asphalt Shingle
Location
   
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Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price
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Disclaimer: Copyright 2024 The Real Estate Board of The Fredericton Area Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 6/20/24 20:29