128-132 Forest Hill Road, Fredericton, New Brunswick
$599,900 - For Sale
KNOCK KNOCK !
WHO ARE YOU?
I’M YOUR OPPORTUNITY FOR A FUTURE MULTI UNIT PROJECT TO LAUNCH YOU INTO EARLY RETIREMENT, THAT’S 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 you’re 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 hot…obviously by the investment in the adjacent projects. If you’ve been waiting for that opportunity, better strongly consider KNOCK KNOCK! (Financials are 2019)
- Property Address:128-132 Forest Hill Road, Fredericton, New Brunswick
- Property Type:Multi Family
- Taxes:$6,687 (2020)
- Structure Type:5 - 8 Units
- Floor Space:6000 SqFt
- Exterior Type:Masonite/Colour Lock, Vinyl Siding