351 Somerset Street

Description

Fabulous two-unit investment property on oversized lot certified by the city to accommodate 13 individuals (8 in the front house and 5 in the back house). First thing to know is there are 2 separate, self-sufficient buildings on this lot. The back building, built in 2022, is certified for 5 occupants. Unit B is over 4 car garages. 2 of them have 10 ft high doors and are heated and cooled. This is perfect for additional rental income, work space or temperature controlled storage income. The second floor has a beautiful self-sufficient 2 bed 2 bath apartment. This unit faces a large back yard surrounded by a paver driveway and patio with outdoor furniture. The second floor also offers a deck off the living room and gas fireplace. Unit A in the front is also self-sufficient and is certified for 8 occupants. It has 4 bedrooms, a full basement, enclosed porch. This property has been owner occupied for many many years and is very well maintained. This is perfect for an owner occupant who can live in one unit and rent the other, multi-generational living or students. Also, there is plenty of off-street parking which is high demand. Additional rental income from the garages is a huge plus. This property is not registered with New Brunswick Rent Control, so you set the rents you feel the market will support.