The GREATEST student/young professionals rental property the Ottawa market has ever seen! $6,200 monthly income and a 6.76% CAP RATE. Near Algonquin College. Fully renovated and SDU added in 2020. 8 Bedrooms and 4 Full Bathrooms split between 2 LEGAL separate dwelling units in a sprawling bungalow. Exceeds 2400sqft as per MPAC. Gross income $6,200 monthly or $74,400 annually. Incredibly efficient boiler heating and low taxes result in expenses adding up to only ~$13,610. NET OPERATING INCOME $60,790. Monthly CASH FLOW approx. $1,200 even at current interest rates! Prove your investment acumen and show other investors that you CAN cashflow a renovated Ottawa property well over $1,000/month at current rates. If rates go down to 3% cashflow becomes $2,200+. With growing rental income you could cashflow over $1 million during a 30-year ownership. At only 4% value growth per year, resale could be approx. $2.92 million. Attached garage holds opportunity for additional income. Sold furnished. (id:47421)
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Detailed Information
Bedrooms
4+4
Bathrooms
4
Lot
65 x 110 ft
Amenities Nearby
Public Transit, Recreation Nearby, Shopping
Listing Contract Date
2024-04-22
Municipal ID
046520175
Ownership Type
Freehold
# of Parking Spaces
3
Property Type
Single Family
Transaction Type
For sale
Zoning Description
R1F
Building
Amenities
Furnished
Architectural Style
Bungalow
Basement Development
Finished
Basement Type
Full (Finished)
Constructed Date
1967
Construction Style (Attachment)
Detached
Cooling Type
Wall unit
Exterior Finish
Stone, Siding
Flooring Type
Vinyl, Ceramic
Foundation Type
Poured Concrete
Heating Fuel
Natural gas
Heating Type
Hot water radiator heat, Radiant heat
Stories Total
1
Type
House
Utility Water
Municipal water
Rooms
Room
Level
Dimensions
Notes
Kitchen
Lower level
12'11" x 9'0"
Living room
Lower level
13'3" x 11'5"
Dining room
Lower level
13'2" x 7'10"
Bedroom
Lower level
12'1" x 11'8"
Bedroom
Lower level
12'7" x 10'0"
Bedroom
Lower level
13'3" x 8'6"
Bedroom
Lower level
10'6" x 9'11"
3pc Bathroom
Lower level
Measurements not available
3pc Bathroom
Lower level
Measurements not available
Kitchen
Main level
12'2" x 9'7"
Living room
Main level
16'1" x 13'11"
Bedroom
Main level
10'11" x 10'0"
Bedroom
Main level
11'10" x 10'7"
Bedroom
Main level
11'7" x 9'9"
Bedroom
Main level
10'0" x 8'4"
3pc Bathroom
Main level
Measurements not available
3pc Bathroom
Main level
Measurements not available
Parking Spaces
Name
Spaces
Attached Garage
Surfaced
Land
Total Size
65 ft X 110 ft
Amenities
Public Transit, Recreation Nearby, Shopping
Sewer
Municipal sewage system
Size of Irregular Land
65 ft X 110 ft
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