Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed 2 bth - all on master leases. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining. (id:47421)
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Detailed Information
Lot
39.92 x 101.17 ft
Amenities Nearby
Public Transit, Recreation Nearby, Shopping
Lease Type
Other, See Remarks
Listing Contract Date
2024-05-08
Municipal ID
042090142
# of Parking Spaces
4
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
RES
Building
Basement Development
Partially finished
Basement Type
Full (Partially finished)
Constructed Date
1902
Construction Style (Attachment)
Attached
Cooling Type
Central air conditioning
Exterior Finish
Brick, Siding
Flooring Type
Laminate, Tile
Heating Fuel
Natural gas
Heating Type
Forced air
Stories Total
2
Type
Fourplex
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Open
Tandem
Land
Total Size
39.95 ft X 101.14 ft
Amenities
Public Transit, Recreation Nearby, Shopping
Sewer
Municipal sewage system
Size of Irregular Land
39.95 ft X 101.14 ft
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