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Business For Sale · Specialty

54-62 William Street, St. John's

54-62 William Street, St. John's, Newfoundland & Labrador A1C2S1

$2.5M total

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Asset Class

Specialty

Size

—

Building class

A

Zoning

DC2 — Site Specific

$ / SF

—

Occupancy

93%

Year Built

2005

About this property

The Kingsley Condominiums – A Distinctive Investment Opportunity! Introducing The Kingsley Condominiums, a collection of five exceptional condominiums showcasing an industrial aesthetic complemented by contemporary finishes, thoughtfully designed by renowned architect Philip Pratt. Situated in the heart of sought-after Georgestown, this unique offering presents an outstanding opportunity for the savvy investor, with versatile income-generating potential through executive leasing or short-term vacation rentals. To be purchased as a complete collection, all five units have been condominiumized, offering a distinctive investment opportunity in one of the city's most desirable neighbourhoods. Each residence is characterized by soaring ceilings, impressive 10-foot windows, open-riser staircases & lofty, open-concept floor plans that create a striking sense of space and architectural appeal. The penthouse units are further elevated by private rooftop terraces showcasing panoramic city views. Unit 56 has just been reimagined with finishes and is fully staged as the model unit. Additional features include multi-car garage parking, direct garage access from two units, a substantial storage area beneath the garage & additional driveway parking at the rear of the building. This state-of-the-art building is fully sprinklered, adding an important layer of safety. A rare opportunity to acquire a collection of architecturally distinctive residences in an established urban neighbourhood, with the flexibility to pursue multiple investment strategies. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.50M
Down payment30% · $750K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$12K

Projected NOI

$146K

Annual cash flow

$8K

Cash-on-cash

1.03%

DSCR

1.06

Going-in cap

5.85%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

100,982

Households

40,212

Median income

$83,000

Median age

44

Daytime population

136,221

5-yr growth

1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 54-62 William Street, St. John's.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.