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Ottawa, Ontario K1N7X5

$1,400,000

ID# 1259152
Calling all investors, contractors or anyone looking for a fall/winter project...opportunity knocks in desirable Sandy Hill! This solid concrete block building sits on an extra deep 148-foot lot with possibility to build or develop the back of the property. Proper parking lot lines could be added to the back of the property to collect additional parking fees, or its easily turned into a family backyard. Currently used as student rentals with a total of 13 rooms, this property is technically a triplex with a non-conforming 4th unit. Unit 1 is 4 bedrms. Units 2, 3 & 4 are all 3 bedrms. Two tenants are month-month, one Tenant is on a new 1-year lease, and one Tenant is on a new 8-month lease (the other rooms are vacant). If the property was fully occupied the estimated annual income would be $103,020 with estimated expenses of $25,715, estimated NOI of $77,305 (estimated cap rate of 5.5%). Updates include roof 2020, all windows 2021. 24 hours' notice for showings on Tenant occupied units. (id:25961)
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Courtesy of EXP REALTY

Listed on: September 06, 2021

On market: 16 days

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Bathroom Total 0
Half Bathrooms Total 0
Year Built 1920
Cooling Type None
Flooring Type Carpeted, Tile, Vinyl
Heating Type Hot water radiator heat
Heating Fuel Natural gas
Stories Total 3

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