127-129 King Street East — Saint John, New Brunswick

This 1905 Queen Anne style Henderson House, stands among the most distinguished heritage properties on King Street East, set within a streetscape of mature trees and historic homes that predate the Great Fire of 1877. Its exterior displays scalloped cedar shingles, stained glass, bay and hexagonal windows, dentils, double entry doors, and a copper capped turret. Within walking distance of King Square and the City Market, the property offers over 6,000 sqft of living space with high ceilings, working fireplaces, in floor heating, and well preserved woodwork. The owners unit exceeds 2,800 sqft and includes four bedrooms, three bathrooms, hardwood flooring, two fireplaces, a finished basement suited to study or recreation, and a rear shed with a workshop, a layout that could rent for approximately $2,500 per month. Three additional rental units, two two bedroom apartments and one one bedroom apartment, retain character through hardwood or softwood flooring, fireplaces, French doors, generous bedrooms, and detailed moldings. All units are separately metered with long term tenants in place. Current rents total roughly $89,400 annually, while estimated expenses of $10,800 for heat, $450 for the house meter, $6,761 for taxes, $2,640 for water and sewer, and $6,222 for insurance produce approximate annual costs of $26,873 and an estimated net income of $62,527, offering a rare chance to acquire a landmark with lasting appeal. (id:63357)