101 Carleton Street An opportunity with serious upside in the heart of Saint Johns City Centre. This multi-unit property at 101 Carleton Street is currently operating as a 7-unit building, with an additional unit already in place offering future potential (buyer to verify). The property features a strong unit mix, primarily 2-bedroom units, appealing to a wide range of tenants. Units 1-4 are currently rented. Rents are as follows: Unit 1 $1, 500/month, Unit 2 $1, 350/month, Unit 3 $1, 450/month, Unit 4 $1, 500/month. All tenants pay their own heat/electricity. Additional units with projected rents are: Unit 5 $1, 400/month, Unit 6 $1, 600/month (this unit is not a legal unit), Unit 7 $1, 100/month, Unit 8 $1, 000/month. This brings projected gross annual income to approximately $130, 800. Annual expenses include property taxes of $13, 309, insurance of $2, 500, water and sewer of $4, 500, garbage removal of $1, 586, and snow removal of $800, totaling approximately $22, 695 in yearly expenses. This results in a projected net income of approximately $108, 105. The building features in-unit laundry, and on-site parking. Located just steps from the hospital, and minutes to uptown Saint John, TD Station, restaurants, and amenities, this is a highly rentable area with consistent tenant demand. While the property would benefit from some TLC, the upside is clear. Whether you're looking to improve and stabilize, or hold long-term, this is a property where the numbers make sense with the right approach. (id:203)