422/424 Nelson Street Ottawa, Ontario K1N 7S7
$2,180,000
Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K 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 on master leases. 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. 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:47351)
Property Details
| MLS® Number | 1390444 |
| Property Type | Multi-family |
| Neigbourhood | Sandy Hill |
| AmenitiesNearBy | Public Transit, Recreation Nearby, Shopping |
| ParkingSpaceTotal | 4 |
Building
| BasementDevelopment | Partially Finished |
| BasementType | Full (partially Finished) |
| ConstructedDate | 1902 |
| ConstructionStyleAttachment | Attached |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick, Siding |
| FlooringType | Laminate, Tile |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| Open | |
| Tandem |
Land
| Acreage | No |
| LandAmenities | Public Transit, Recreation Nearby, Shopping |
| Sewer | Municipal Sewage System |
| SizeDepth | 101 Ft ,2 In |
| SizeFrontage | 39 Ft ,11 In |
| SizeIrregular | 39.95 Ft X 101.14 Ft |
| SizeTotalText | 39.95 Ft X 101.14 Ft |
| ZoningDescription | Res |
https://www.realtor.ca/real-estate/26865026/422424-nelson-street-ottawa-sandy-hill
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October 08 2024 05:14:09
Ottawa Real Estate Board
Sleepwell Realty Group Ltd