LOOK AT THESE NUMBERS! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 5.86% cap with GOI $113,892.00 and NOI $90,783.00). It has been extensively renovated, boasting a high level of security and very stable tenants. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg security, lighting, cameras, intercom, washrooms, kitchens, laundry added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof (30K 2024), secure doors, windows, garage renos +. Quality 6 unit building w 5 x 100% updated suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure that generates $850 in rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed at a cost of approx 25K which would increase return of +$12,948.00 per year with a higher Net Income of approx $103,731/yr. This has a projected CAP rate 6.7% (buyer to verify). Easy to own & manage bldg! Min 24 hours notice for all showings please. (id:4069)
Address
340 LACASSE AVENUE
List Price
$1,550,000
Property Type
Multi-family
Type of Dwelling
Other
Area
Ontario
Sub-Area
Ottawa
Bedrooms
6
Bathrooms
6
Floor Area
20,002,500 Sq. Ft.
Lot Size
52.3 x 86 FT Sq. Ft.
MLS® Number
X12036179
Listing Brokerage
ENGEL & VOLKERS OTTAWA
Basement Area
N/A (Partially finished)
Postal Code
K1L7A9
Zoning
R4UD
