The Opportunity
Overview
Very well maintained 16 unit Apartment Building that consists of 8 two-bedroom (686 sq ft) and 8 three bedroom (834 sq ft) apartments that have historically been occupied by local mining and fishery companies and include internet, utilities and furnishings including oven, refrigerator, washer & Dryer. Property was built in the mid-1970's. Recent interior renovations have the property with an effective age of 15 years. The .57 acre lot is zoned ""Residential Traditional Community"" and backs onto the rocky coastline of Creston Inlet. Paved parking with some landscaping and a detached building used for main electrical service (800 amp main panel). 3576 sq ft on level one, two & three and 3430 sq ft in partially above ground basement for a total of 14,158 sq ft. Based on the current pro-forma statement, this property is projected to achieve a capitalization rate (CAP Rate) of 7.4%, reflecting its potential return on investment relative to the purchase price. (id:61970)
Investment highlights
- 01Multi-family
Property details
- Property type
- Multi-family
- Transaction
- sale
- Listing brokerage
- RE/MAX Infinity Realty Inc.
- Listing representative
- Jim Burton
- Board / association
- Newfoundland & Labrador
Financial information
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Location intelligence
Documents
Source Record
Current listing facts, with attribution intact.
- Source
- REALTOR.ca DDF®
- Listing status
- active
- Source ID
- 28585658
- Last supplied
- July 31, 2026
- Listing brokerage
- RE/MAX Infinity Realty Inc.
- Listing representative
- Jim Burton
- Board / association
- Newfoundland & Labrador
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Listing brokerage: RE/MAX Infinity Realty Inc. · Listing representative: Jim Burton · Board/association: Newfoundland & Labrador · Updated: Jul 31, 2026
Listing content is supplied through REALTOR.ca DDF®. Information is deemed reliable but is not guaranteed and should be independently verified. Commercially is not the listing brokerage unless expressly stated.
