128-132 Forest Hill Road , Fredericton

$599,900 / MLS® Listing #:NB051533

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KNOCK KNOCK ! WHOS THERE? OPPORTUNITY! WHO ARE YOU? IM YOUR OPPORTUNITY FOR A FUTURE MULTI UNIT PROJECT TO LAUNCH YOU INTO EARLY RETIREMENT, THATS 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 youre 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 hotobviously by the investment in the adjacent projects. If youve been waiting for that opportunity, better strongly consider KNOCK KNOCK! (Financials are 2019) (id:10452)

Property Details

Property Type Multi-family
Square Feet
Maintenance N/A
Days On Our Website 14
Lot Dimensions 2290 Sq M.|1/2 - 1.99 acres
Pool N/A
Area Fredericton
Air Conditioning N/A
Heating Oil - Baseboard heaters, Hot Water
Exterior Colour Loc, Vinyl
Sewers Municipal sewage system
Water Municipal water

Listing Office: eXp Realty

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