This registered two-apartment property offers an exceptional opportunity in one of the city’s most sought-after rental locations, ideally situated next to Memorial University, Prince of Wales Collegiate, the Health Sciences Centre, shopping, recreation, major amenities and bus route in front. Featuring a total of eight bedrooms, the home is configured into two spacious four-bedroom units, each complete with its own kitchen, living room, four-piece bathroom, and in-unit laundry facilities. The property currently generates $4,600 in monthly rental income, with each bedroom renting for $575 (with potential of higher) and one room presently vacant, providing immediate income potential with room for further growth. Its prime location makes it highly attractive to students, healthcare professionals, and long-term tenants alike. Extensively renovated from the studs in 2015, the property underwent a comprehensive transformation including all new electrical and plumbing systems, new interior wall framing, kitchens, bathrooms, flooring, insulation, appliances, and the installation of two HRV units. Significant attention was also given to safety, efficiency, and tenant comfort with upgraded sound barriers and fire-rated separation between floors. Exterior improvements completed during the renovation included new shingles, windows, siding, and doors. Additional recent upgrades completed in 2025/2026 include a new bathroom vanity, fresh paint, and vinyl flooring in the basement apartment, along with a new front door and hot water tank in the main unit. The property also provides 4 car off street parking. This turn-key income property combines strong rental returns, extensive upgrades, and an unbeatable central location, making it an outstanding addition to any investment portfolio. (id:4069)
Address
159 University Avenue
List Price
$449,900
Property Type
Single Family
Type of Dwelling
Two Apartment House
Style of Home
Bungalow
Transaction Type
Sale
Area
Newfoundland & Labrador
Sub-Area
St Johns
Bedrooms
8
Bathrooms
2
Floor Area
2,528 Sq. Ft.
Lot Size
53x100 Sq. Ft.
Year Built
1963
MLS® Number
1299123
Listing Brokerage
RE/MAX Infinity Realty Inc. - Sheraton Hotel
Postal Code
A1B1Z6
Zoning
Res.
Ownership
Freehold
Site Influences
Recreation, Shopping
Heat Source
Electric
Heat Type
Baseboard heaters
Number Of Floors In Building
1
Water Source
Municipal water
Access To Property
Year-round access
Sewer
Municipal sewage system
