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340 LACASSE AVENUE
Ottawa, Ontario K1L7A9

$1,474,900

ID# 1394838

ABOUT THIS PROPERTY


Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow (present return 5.94% cap). It has been extensively renovated and offers tenants a high level of security. 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, secure doors, windows, garage renos +. Quality 6 unit building w 5 x 100% updated 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed @ 25K would increase return of +$10,680/yr + higher Net Income approx $99,801.00/yr with projected CAP rate 6.65% (buyer to verify). Easy to own & manage bldg! (id:25961)

PROPERTY DETAILS


Year Built 1955
Cooling Type Heat Pump
Heating Type Radiant heat
Heating Fuel Natural gas
Stories Total 3

Property Type


Multi-family
Courtesy of ENGEL & VOLKERS OTTAWA

Listed on: May 29, 2024

On market: 20 days

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