3 beds · 4 baths · 1798 sqft
For sale in the picturesque town of Witless Bay, the home of the ecological bird island reserve - Newly renovated house with a double lot and a view of the ocean. Ready for move in. The house boasts 4 separate apartments, each with its own entrance, electrical meter, deck, and all appliances; a stove, fridge, microwave, dishwasher, washing machine and dryer. All units enjoy an ocean view. This unique property has great earning potential. The property is zoned both residential and commercial posing several options as either a residence, or an investment opportunity for those who want to expand their portfolio, or both. The property offers the home buyer or investor the option of starting a business in the spacious 1BR on the lower floor, formerly the Witless Bay post office, or renting out all 4 as residential units. For the home buyer, an onsite owner can rent out 3 units all while living in the home. You can pay off your mortgage with the rental income. The option also exists to live on site, start a business, and still have 2 rental incomes. The well is newly dug. The new septic system is a professionally designed commercial system with the capacity to handle 4 apartments comfortably. The family sized 3BR/1 bath unit on the upper floor features a propane fireplace, hardwood and commercial grade, water proof laminate flooring in the kitchen and bathroom. The bathroom has both a walk in shower and a soaker tub. The spacious master bedroom boasts wall to wall closet space. The open, spacious 1BR/1 Bath on the lower floor is the same square footage as the upper family unit and can be used to start an on site business. The upper and lower remaining 2 units each are 1 BR/1 bath. All 3 newly built units offer commercial grade, water proof laminate flooring and walk in showers (id:39198)
Building Type Two Apartment House, Detached
Year built 1976
Square Footage 1798 sqft
Stories 1
Bedrooms 3
Bathrooms 4
Parking
Neighbourhood
Land size 1 Acre Approx|.5 - 9.99 acres
Heating type
Basement type
Parking Type
Time on REALTOR.ca107 days
This home may not meet the eligibility criteria for Requity Homes. For more details on qualified homes, read this blog.
Brokerage Name: eXp Realty
Home price
$575,900
Start with 2% down and save toward 5% in 3 years*
* Exact down payment ranges from 2-10% based on your risk profile and will be assessed during the full approval process.
$5,239 / month
Rent $4,633
Savings $606
Initial deposit 2%
Savings target Fixed at 5%
Start with 5% down and save toward 5% in 3 years.
$4,617 / month
Rent $4,491
Savings $126
Initial deposit 5%
Savings target Fixed at 5%