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$ 2,790,000
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1-24 Anna Place Harbour Grace, NL A0A2M0
19,411 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 19,411 sqft
Price per Sqft $143
MLS® Listing ID 1289697
Year Built 2011
Property Sub-Type Freehold
Source Newfoundland & Labrador Association of REALTORS®
Property Description
Located in the beautiful town of Harbour Grace, just one hour from the capital city, this 24-unit apartment complex is an exceptional opportunity for the savvy investor. The property is fully occupied with high-quality, long-term tenants and even maintains a waiting list-an investor's ideal scenario. The current owner has chosen to rent to all 55 plus which has provided top notch tenants. Each unit features 2 bedrooms, a well-sized kitchen, living room, bathroom, and in-suite laundry. Several units boast stunning views of the bay, while others include basement space for additional storage. One unit has a full basement, and four units feature attached garages—highly sought-after by tenants. All units are separately metered and heated with electric baseboard heating.The complex consists of four single-story buildings. The first was constructed in 2010 and has 10 units that are all slab on grade. The 2nd was constructed in 2013 and has 6 units all with their own 4 foot concrete basement for storage. The 3rd and 4th buildings were constructed in 2017 using insulated concrete forms (ICF) for the exterior and adjoining walls. These buildings offer superior quality, excellent insulation, and minimal sound transfer between units. They are easy to heat and quiet!! Anna Place feels like its own private community located on a quiet public cul-de-sac that's owned and maintained by the town of Harbour Grace. Beyond its current strong performance, this property also offers tremendous potential for expansion with the adjoining vacant land, there is the possibility to increase the development to 60–70 units—truly a rare opportunity for any investor to own such a large, consolidated rental portfolio. Details can be provided!! All vinyl quality windows, quality doors and asphalt shingled roofs, these units don't require any up grades and won't for many years to come. Just let the investment do the work, and what an investment for the retirement portfolio! Call today! (id:24570)
Location
Province NL
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters,
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Story 1
Others
Ownership Freehold
Listed by Royal LePage Vision Realty