Substantially rebuilt 9-unit apartment building located within walking distance of Ottawa University Lee's Campus, Main Campus, and St Paul's University campus. Largely rebuilt down to the studs in 2019 from the basement to the roof. The long list of work included concrete repair, membrane around the foundation, plumbing infrastructure with water submeters for all units, electrical, upper roof, tankless boiler, radiators, windows, fire alarm system, asphalt, appliances, and completely remodeled units. All tenants pay for electricity and water in addition to their rent. Paid parking and coin laundry. Heating is a central tankless boiler system with high-efficiency radiators. All rents are currently quite below the market value giving the successful buyer a substantial upside opportunity. Tenants are a mix of students and young professionals. Rarely available, this is a long-term legacy investment opportunity for you and your family. No vendor mortgage is available.
Exit the highway at Lees Avenue. Travel West two blocks to the corner of Concord Street South. The property is on the corner.
Neighbourhood
4407 - Ottawa East
Area
Ottawa
Price History
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Detailed Information
Lot
61.1 x 95.8 ft
Parking Spaces
7
Heat Type
Water
Gross Income/Sales
$178,227
Net Income Before Debt
$114,548
Water Expense
$1,800
Insurance Expense
$8,356
Operating Expenses
$57,524
Sewers
Sewers
Water
Municipal
Zoning
R3P
Seller Property Info Statement
N
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