Great Investment with 8.6% Cap Rate!
Smart Investment in the Heart of Downtown
Photos of Exterior & Common Area | Photos of Apt 1 | Apt 2 | Apt 3 | Apt 4 | Apt 5
Unlock the door to income freedom with this solid 5-unit income property nestled in the heart of downtown New Glasgow—a walkable, amenity-rich location tenants love and investors appreciate. Whether you're a seasoned portfolio builder or a first-time buyer ready to live rent-free, this opportunity delivers unmatched value, location, and upside potential.
This well-maintained building features 2 bachelor units, 3 one-bedroom apartments, offering steady, diversified rental income. With a current cap rate of 8.6% and room to increase to 12% at market rents, this property promises both immediate cash flow and long-term appreciation.
Recent upgrades include:
- Brand new flooring in the common areas (2025)
- New propane boiler (2025) for reliable, energy-efficient heating
- Fresh paint in Units 3 & 4 and all common space
- Rebuilt overhang over basement stairs and new front staircase with fire escape railing improvements for enhanced safety and curb appeal
Whether you choose to live in one unit and let the others cover your mortgage, or lease all five for maximum income, 220 James St offers flexibility and financial leverage.
This property checks all the boxes: strong numbers, updated systems, desirable location, and room to grow. Don’t miss your chance to own a piece of downtown New Glasgow real estate with real income potential.
Book your private showing today—this is the investment you’ve been waiting for.
MLS# 202510039
$329,900
