Currie Avenue photo 11 / 13

MLS #1285222

Currie Avenue

Port aux Basques

$1,300,000

Two-Apartment Home
Source Listing

Property Details

Now offering this one-of-a-kind investment opportunity in downtown Port aux Basques. The well-established Shark Cove Suites and Rentals is a turn-key opportunity waiting for new owners. This package includes two apartment buildings, a warehouse-style building with 2 residential units, and a serviced RV park area. The first building, 16 A Currie Avenue, has six two- bedroom units and two one-bedroom units. The second building, 16B Currie Avenue, has six three-bedroom units. The third building, 18 Currie Avenue, has two residential units, for a total of sixteen units in all. Twelve of the sixteen units come fully furnished. All units have their own laundry facility. These units can be utilized as long-term, weekly, or daily rentals, or a combination of the three. 18 Currie Avenue, the former Follows Wholesale building and later the Shark Cove Restaurant and Lounge, has two residential units upstairs and loads of space on the main floor to develop into additional business ventures or simply use as storage. Also included is a recently developed RV park with 18 serviced units for those travelers awaiting a ferry crossing or a long cross-island trek. This addition to the business is showing steady growth in peak tourist season. This well-established business is a turn-key opportunity with growth potential. If you are in the market to broaden your investment portfolio or be your own boss, contact today to find out more. (id:66441)

Cost To Own

Down payment and monthly ownership estimate

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Purchase Price$1,300,000
Down Payment - 9%$117,000
Interest Rate5.25%

Amortization

Estimated Monthly Cost

$8,510

Mortgage Payment
$7,089
Property Tax
$921
Insurance
$150
Utilities
$350
Down Payment
$117,000
Loan Amount
$1,183,000
Total Interest
$943,730

Estimate only. Final payments depend on lender approval, taxes, insurance, closing costs, and mortgage insurance when applicable.

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