340 Lacasse Avenue Ottawa, Ontario K1L 7A9
$1,474,900
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:49712)
Property Details
| MLS® Number | 1394838 |
| Property Type | Multi-family |
| Neigbourhood | Vanier |
| Community Name | Vanier |
| ParkingSpaceTotal | 3 |
Building
| ConstructedDate | 1955 |
| CoolingType | Heat Pump |
| ExteriorFinish | Brick |
| FireProtection | Security |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Radiant Heat |
| StoriesTotal | 3 |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| SizeDepth | 86 Ft |
| SizeFrontage | 52 Ft ,4 In |
| SizeIrregular | 52.3 Ft X 86 Ft |
| SizeTotalText | 52.3 Ft X 86 Ft |
| ZoningDescription | R4ud |
https://www.realtor.ca/real-estate/26963083/340-lacasse-avenue-ottawa-vanier
787 Bank St Unit 2nd Floor
Ottawa, Ontario K1S 3V5
(613) 422-8688
(613) 422-6200
ottawacentral.evrealestate.com/
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
May 30 2024 02:11:07
Ottawa Real Estate Board
Engel & Volkers Ottawa
