Business For Sale · Multifamily

18 Humber Road, Corner Brook

18 Humber Road, Corner Brook, Newfoundland & Labrador A2H1H1

$359,000 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA9 — High Rise

$ / SF

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Occupancy

91%

Year Built

1959

About this property

Prime Downtown Corner Brook Investment Opportunity Located in downtown Corner Brook, this landmark property offers stunning panoramic views of the Bay of Islands and the city. With four rental spaces, all currently rented, this property provides an excellent opportunity for an investor looking for an established income-producing property. The property includes two residential apartments, a spacious commercial retail space currently leased to a successful established business, and a detached double garage that is rented for storage. The one-bedroom apartment features a private deck accessible from both the living room and bedroom, while the spacious three-bedroom apartment includes two storage rooms and a dedicated laundry room. Both apartments have separate entrances and beautiful views. With every space currently rented and the owner ready to retire, this is a great opportunity to take ownership of a well-established downtown property with multiple sources of rental income. A unique investment opportunity in a prime downtown location with incredible views. (id:66811)

Financial sandbox

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Estimate
Purchase price$359K
Down payment30% · $108K
Interest rate6.25%
Amortization25 years
Occupancy91%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$14K

Annual cash flow

$-6K

Cash-on-cash

-5.80%

DSCR

0.69

Going-in cap

3.80%

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

102,909

Households

36,755

Median income

$135,000

Median age

39.1

Daytime population

164,685

5-yr growth

4.8%

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

Secure deal room

Confidential diligence documents for 18 Humber Road, Corner Brook.

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.