295-297 North River Road, North River, Newfoundland & Labrador

$1,399,900

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8,360

Square feet

5.68

Acres

About 295-297 North River Road

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:2599)

Features of 295-297 North River Road

Listing # 1266287
Price $1,399,900
Bathrooms 0.00
Square Footage 8,360
Acres 5.68
Year Built 2011
Type Single Family
Sub-Type Freehold
Style Bungalow

Community Information

Address 295-297 North River Road
City North River
Province Newfoundland & Labrador
Postal Code A0A3C0

Amenities

Is Waterfront No
Has Pool No

Interior

Appliances Refrigerator, Stove
Heating Electric Baseboard heaters
Fireplace No
# of Stories 1
Has Basement No

Exterior

Exterior Vinyl siding
Foundation Concrete Slab

Listing Details

OfficeRE/MAX Realty Specialists

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