For Sale · Multifamily

336-338 Broadway Boulevard, Grand Falls

336-338 Broadway Boulevard, Grand Falls, NB E3Z2K4

$844,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

90%

Year Built

2010

Lot Size

0.17099677280657102 ac

About this property

This beautiful, well-maintained building offers an excellent investment opportunity in the heart of Grand Falls. The upper level features four bachelor apartments, along with a separate common washroom for tenants. Three of the units include a fridge, stove, and some furnishings, making them ready to continue generating rental income or offering the potential for short-term rentals or a charming bed and breakfast. The main and lower levels are currently occupied by a two-storey daycare facility. Please note that the building is being sold only; the daycare business is not included in the sale. Built with quality materials and exceptional workmanship, this property is designed for comfort and efficiency, featuring a central heat pump for easy heating. Ideally located along the scenic Broadway Boulevard, one of New Brunswick's most picturesque streets, this property is just minutes from the famous Grand Falls gorge, walking trails, shopping, restaurants, and other local amenities. With excellent visibility in a high-traffic area and multiple income possibilities, this property offers outstanding potential for investors looking to own a versatile income-generating building in a prime location. (id:66811)

Financial sandbox

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Estimate
Purchase price$845K
Down payment30% · $253K
Interest rate6.25%
Amortization25 years
Occupancy90%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$33K

Annual cash flow

$-13K

Cash-on-cash

-5.30%

DSCR

0.71

Going-in cap

3.95%

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

65,110

Households

28,051

Median income

$135,000

Median age

39.7

Daytime population

75,280

5-yr growth

2%

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

Secure deal room

Confidential diligence documents for 336-338 Broadway Boulevard, Grand Falls.

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.