Income-generating property featuring two semi-detached homes, each with basement apartments, ideally located within walking distance to Algonquin College. This prime location offers easy access to LRT station(when completed), public transit, and a wide array of nearby amenities including shopping, schools, restaurants, parks, and everyday conveniences making it highly attractive to students, professionals, and long-term tenants alike. The property generates a strong gross annual rental income of $70,972.08, with tenants paying all utilities, keeping operating costs low generating higher NOI. The building is equipped with 4 hydro meters, 2 gas meters, and water sub-metering for efficient and transparent utility management. Basement units are heated by electric baseboard, while the upper units feature forced-air natural gas heating, offering independent and reliable climate control throughout.Under the City of Ottawa's proposed Official Plan, the property is anticipated to fall under MS2 H zoning, which allows for a wide range of mixed-use and intensified development options, subject to City approvals. This zoning framework provides significant long-term redevelopment and value-add potential at this highly desirable, transit-oriented location. A rare opportunity to acquire a high-performing income property with excellent holding income today and exceptional redevelopment potential for the future. (id:49712)
| MLS® Number | X12834478 |
| Property Type | Multi-family |
| Community Name | 7301 - Meadowlands/St. Claire Gardens |
| Equipment Type | Water Heater |
| Parking Space Total | 5 |
| Rental Equipment Type | Water Heater |
| Bathroom Total | 4 |
| Bedrooms Above Ground | 7 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 9 |
| Appliances | Dishwasher, Dryer, Stove, Washer, Refrigerator |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Cooling Type | None |
| Exterior Finish | Brick |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Ft2 |
| Type | Fourplex |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 77 Ft |
| Size Frontage | 63 Ft ,10 In |
| Size Irregular | 63.9 X 77 Ft |
| Size Total Text | 63.9 X 77 Ft |
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