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West Centre Town,ON K1R 6S2
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $531
Subdivision 4205 - West Centre Town
MLS Listing ID X11960040
Annual Tax Amount $17,159
Tax Year 2024
Property Sub-Type Investment
Property Description
This is a fantastic opportunity to own a turn key 8-unit investment property, with phenomenal cash flow! Perfectly situated only steps from Lebreton Flats, Little Italy and Chinatown, in a community filled with a diversity of restaurants, cozy cafes and all the amenities of living downtown. Public transit is within a block with quick access to the LRT station which runs through Lebreton Flats. Gross income of $138k+ with an NOI of $102k+. This is an outstanding investment opportunity at a 6.4% cap rate. This building is well maintained and in great condition with recently renovated units and a solid tenant base comprised primarily of young professionals. This building is extremely easy to manage and boasts a cooperative relationship between the owner and the tenants. All units are located above-grade and comprised of 3 spacious and bright two-bedroom units, two one-bedroom units and three bachelor suites. The impressive top floor two-bedroom unit was recently fully renovated with a new kitchen, new bathroom, full interior painting, new laminate flooring and fixtures throughout. A profitable coin operated laundry is in the basement with ample storage space for tenants. The property sits on a 71 x 46 lot with R4UB zoning and the spacious side lot (which currently holds 7 parking spaces) offers the potential for future development opportunity to add additional units.
Location
State ON
County Ottawa
Community 4205 - West Centre Town
Area Ottawa
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 71.41
Lot Depth 46.16
Others
Security Features Partial