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Listed by Century 21 Big Land Realty Limited - Labrador City
$2,600,000
Est. payment /mo
8,065 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,065 sqft
Price per Sqft $322
MLS Listing ID 1287575
Year Built 2024
Annual Tax Amount $11,799
Tax Year 2025
Lot Dimensions 24.6 M X 60.9 M
Source NLAR
Property Description
Fantastic Investment Property - 13-unit building, fully upgraded with modern finishes.
This impressive building offers a total of 13 Modern rental units, making it an ideal income-generating investment. The upper level features 7 efficiency units, while the main floor includes a handicap-accessible efficiency unit and a spacious 5-bedroom, 2-bathroom unit with a shared kitchen and ground-level patio – perfect for group accommodations. Each unit is fully furnished and equipped.
The building also provides shared laundry facilities equipped with 3 washers and 3 dryers, as well as a two-bay garage with double doors for additional storage or rental income.
Originally renovated from top to bottom in 2003/2004, the building was modernized with high-quality materials and systems. Upgrades include all new plumbing with 1.5-inch water lines and triple 8-inch sewer outlet lines, two 200-gallon hot water tanks (for a total of 400 gallons) with hot water on demand, 400 amp single-phase electrical service, a fire system - Simplex 4007 ES Fire Alarm panel and efficient heating (3000 watts) paired with 3500 BTU air conditioning for comfort.
Zoned Medium Density Residential, this property offers excellent flexibility and potential. The exterior showcases durable asphalt shingles, brick accents, and low-maintenance vinyl siding.
Whether you're expanding your investment portfolio or looking for a turnkey rental property, this building is a rare find with strong income potential.
This impressive building offers a total of 13 Modern rental units, making it an ideal income-generating investment. The upper level features 7 efficiency units, while the main floor includes a handicap-accessible efficiency unit and a spacious 5-bedroom, 2-bathroom unit with a shared kitchen and ground-level patio – perfect for group accommodations. Each unit is fully furnished and equipped.
The building also provides shared laundry facilities equipped with 3 washers and 3 dryers, as well as a two-bay garage with double doors for additional storage or rental income.
Originally renovated from top to bottom in 2003/2004, the building was modernized with high-quality materials and systems. Upgrades include all new plumbing with 1.5-inch water lines and triple 8-inch sewer outlet lines, two 200-gallon hot water tanks (for a total of 400 gallons) with hot water on demand, 400 amp single-phase electrical service, a fire system - Simplex 4007 ES Fire Alarm panel and efficient heating (3000 watts) paired with 3500 BTU air conditioning for comfort.
Zoned Medium Density Residential, this property offers excellent flexibility and potential. The exterior showcases durable asphalt shingles, brick accents, and low-maintenance vinyl siding.
Whether you're expanding your investment portfolio or looking for a turnkey rental property, this building is a rare find with strong income potential.
Location
Province NL
Zoning Medium Density
Interior
Interior Features Air Conditioning, Laundry Facilities
Heating Electric
Cooling Electric
Exterior
Utilities Available Electrical, Municipal Water, Sewer
Roof Type Shingle - Asphalt
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