A shovel-ready 8-unit apartment building development opportunity in Centretown West, Ottawa. This sale includes the lot, site-plan approval documents, survey, all required reports and studies and full architectural working drawings. The cost of construction has been estimated to be $1,900,000 by professional contractors and is variable depending on your particular construction and material choices. The existing building is vacant, boarded and ready for demolition. The approved design provides for seven two bedroom apartments and a single one bedroom apartment. The design has an entrance ramp for disability access on the ground floor. Simply acquire the building permit and begin construction. The estimated market value of the development when completed and fully occupied with tenants paying market rent is projected to be greater than $3,530,000. This is a great opportunity for a builder to create a profitable development to hold as an investment or sell for a profit. (id:47423)
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Detailed Information
Lot
34.08 x 106.75 ft
Listing Contract Date
2024-02-05
Municipal ID
041080277
Ownership Type
Freehold
Property Type
Vacant Land
Transaction Type
For sale
Zoning Description
R4UB[2296] H(12.6)
Building
Utility Water
Municipal water
Land
Total Size
0.08 acres
Access Type
Road access
Sewer
Municipal sewage system
Size of Irregular Land
0.08
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