An exceptional opportunity to acquire a distinguished heritage mixed-use investment property in one of Uptown Saint Johns most sought-after locations. Positioned beside Saint John High School, directly across from the prestigious Harbourfront Residences, and steps from the iconic Three Sisters Lamp, this landmark property enjoys water views and seasonal views of the cruise ships while offering convenient access to the citys finest restaurants, boutiques, and waterfront amenities. Meticulously maintained and extensively improved, the property has benefited from approximately $450,000 in capital upgrades over the years, preserving its historic character while enhancing long-term performance and reliability. Significant improvements include roof patching and drainage upgrades, replacement two out of three furnaces in recent years, major electrical upgrades completed and replacement of the original Kitec/copper water lines with durable PEX plumbing in 2018. The building has also undergone a City inspection and is compliant with all current code requirementsan exceptional advantage for a heritage asset. This fully leased investment features two established long-term commercial tenants on the main floor and three fixed-term residential apartments on the upper levels, providing a balanced and diversified income stream. An attached parking lot generates additional revenue, while all tenants pay their own heat and electricity, contributing to efficient operating costs and a current 8.48% cap rate. Rarely does a property combine historic charm, exceptional maintenance, proven income stability, and an irreplaceable Uptown location. This is a true turnkey investment offering strong cash flow today with outstanding long-term appreciation potential. Seller is a licensed real estate salesperson in the Province of New Brunswick. (id:4069)
Address
240 Prince William Street
List Price
$829,000
Property Type
Other
Transaction Type
Sale
Area
New Brunswick
Sub-Area
Saint John
Floor Area
5,165 Sq. Ft.
Lot Size
3065 Sq. Ft.
MLS® Number
NB143988
Listing Brokerage
Royal LePage Select Realty
Postal Code
E2L2C1
Ownership
Freehold
Site Influences
View
Heat Source
Electric
Heat Type
Baseboard heaters, Hot Water
