$2,180,000
422/424 NELSON STREET Ottawa, ON K1N7S7
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$2,180,000
Est. payment /mo
Price Dropped by $70K
422/424 NELSON STREET Ottawa, ON K1N7S7
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Sandy Hill
MLS® Listing ID 1390444
Originating Board Ottawa Real Estate Board
Year Built 1902
Property Description
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:24570)
Location
Province ON
Interior
Heating Forced air
Cooling Central air conditioning
Flooring Laminate, Tile
Exterior
Garage No
Waterfront No
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Listed by SLEEPWELL REALTY GROUP LTD
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