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)
MLS® Number | 1394838 |
Property Type | Multi-family |
Neigbourhood | Vanier |
Community Name | Vanier |
ParkingSpaceTotal | 3 |
ConstructedDate | 1955 |
CoolingType | Heat Pump |
ExteriorFinish | Brick |
FireProtection | Security |
FoundationType | Poured Concrete |
HeatingFuel | Natural Gas |
HeatingType | Radiant Heat |
StoriesTotal | 3 |
UtilityWater | Municipal Water |
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
(613) 422-8688
(613) 422-6200
ottawacentral.evrealestate.com/