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295-297 North River Road North River, Newfoundland & Labrador A0A 3C0

8360 sqft
Bungalow Baseboard Heaters Acreage

$1,399,900

5.68 acre property has two newer 5 plex units (10 doors total; one set is 12 years old and one set is 5 years) New rents will be $950/mo POU.  There is also municipal approval in principle for a single building lot on the road PLUS two more 5 plex units for a potential total of 20 rentals plus an owner-occupied (or perhaps another rental) house along the road. Two very unique features of this property are: 1) It backs onto North River which is a scheduled salmon river (Zone 7, Class 2), and 2) The current owners have been approved for a $600,000 forgivable loan to assist with the construction of the next 10 units which is transferrable to qualified buyers. Some conditions apply but this program is not expected to make such funding available again for several years, or longer (it has been 10 years since the last round of this financing).  A great Cash-rich opportunity for further development. We have the Survey, RPR, and the keys. Viewings on pre-arranged appointment. (id:55727)

Property Details

MLS® Number 1266287
Property Type Single Family

Building

Appliances Refrigerator, Stove
Architectural Style Bungalow
Constructed Date 2011
Exterior Finish Vinyl Siding
Flooring Type Laminate, Other
Foundation Type Concrete Slab
Heating Fuel Electric
Heating Type Baseboard Heaters
Stories Total 1
Size Interior 8360 Sqft
Type Multi-family

Land

Acreage Yes
Sewer Septic Tank
Size Irregular 5.68
Size Total 5.6800|3 - 10 Acres
Size Total Text 5.6800|3 - 10 Acres
Zoning Description Mixed

https://www.realtor.ca/real-estate/26367069/295-297-north-river-road-north-river

Interested?

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