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$1,550,000
Est. payment /mo
6 Beds
6 Baths
2,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $775
Subdivision 3404 - Vanier
MLS® Listing ID X12036179
Bedrooms 6
Source Ottawa Real Estate Board
Property Description
LOOK AT THESE NUMBERS! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 5.86% cap with GOI $113,892.00 and NOI $90,783.00). It has been extensively renovated, boasting a high level of security and very stable tenants. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg security, lighting, cameras, intercom, washrooms, kitchens, laundry added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof (30K 2024), secure doors, windows, garage renos +. Quality 6 unit building w 5 x 100% updated suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure that generates $850 in rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed at a cost of approx 25K which would increase return of +$12,948.00 per year with a higher Net Income of approx $103,731/yr. This has a projected CAP rate 6.7% (buyer to verify). Easy to own & manage bldg! Min 24 hours notice for all showings please. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Radiant heat
Cooling Wall unit
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 3
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Others
Virtual Tour https://listings.nextdoorphotos.com/340lacasseavenue
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Listed by ENGEL & VOLKERS OTTAWA