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$359,000 total
—
Asset Class
Multifamily
Size
—
Building class
B
Zoning
RA9 — High Rise
$ / SF
—
Occupancy
91%
Year Built
1959
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)
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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.
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.
Confidential diligence documents for 18 Humber Road, Corner Brook.
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.