196 King Street East

Saint John E2L 1H3

An exceptional opportunity awaits in the heart of Uptown Saint Johna charming 7-unit building nestled on one of the citys iconic heritage streets. This well-maintained property is ideally located within walking distance to Saint John's best restaurants, shops, galleries, and waterfront attractions. Whether you're a first-time investor or looking to expand your portfolio, this property offers a strong cap rate of over 67% and excellent long-term potential. The building features a solid mix of five 1-bedroom units and two 2-bedroom units, providing broad tenant appeal. Current rental rates are strong, with Unit #1 renting at $1,175, Unit #2 at $1,200, Unit #3 at $850, Unit #4 at $1,100, Unit #5 currently vacant and advertised for $1,150, Unit #6 at $1,200, and Unit #7 also at $1,200. It includes two separate access points: the front entrance on King Street leads to five of the units, while the rear access from Wentworth Street opens to two fully renovated units, offering privacy and modern finishes. The property also features its own driveway with off-street parking availablea rare find in Uptown. This is a unique opportunity to invest in one of the most desirable areas of the city, combining historic charm with solid rental income. (id:2493)