ADAM MILLS REALTY TEAM


LOADING

422/424 Nelson Street Ottawa, Ontario K1N 7S7

Central Air Conditioning Forced Air

$2,250,000

Fantastic 6.1% CAP 4plex with opportunity to increase cashflow by approx. $33K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed 2 bth. All suites are tenanted on 1 master lease and not rented by the room. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill neighbourhood. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining. (id:49712)

Property Details

MLS® Number 1390444
Property Type Multi-family
Neigbourhood Sandy Hill
Amenities Near By Public Transit, Recreation Nearby, Shopping
Parking Space Total 4

Building

Basement Development Partially Finished
Basement Type Full (partially Finished)
Constructed Date 1902
Construction Style Attachment Attached
Cooling Type Central Air Conditioning
Exterior Finish Brick, Siding
Flooring Type Laminate, Tile
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Type Fourplex
Utility Water Municipal Water

Parking

Open
Tandem

Land

Acreage No
Land Amenities Public Transit, Recreation Nearby, Shopping
Sewer Municipal Sewage System
Size Depth 101 Ft ,2 In
Size Frontage 39 Ft ,11 In
Size Irregular 39.95 Ft X 101.14 Ft
Size Total Text 39.95 Ft X 101.14 Ft
Zoning Description Res

https://www.realtor.ca/real-estate/26865026/422424-nelson-street-ottawa-sandy-hill


Adam Pearce
Salesperson

(613) 899-3008
SLEEPWELL REALTY GROUP LTD
423 Bronson Ave
Ottawa, Ontario K1R 6J5

(613) 521-2000
sleepwellrealty.com/