Alison Edwards Real Estate Broker

422/424 NELSON STREET
Ottawa, Ontario K1N7S7

$2,180,000

ID# 1390444
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:25961)
Courtesy of SLEEPWELL REALTY GROUP LTD

Listed on: May 08, 2024

On market: 185 days
Year Built 1902
Cooling Type Central air conditioning
Flooring Type Laminate, Tile
Heating Type Forced air
Heating Fuel Natural gas
Stories Total 2
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Address Price Bed Bath SqFt Area Sub Area Brokerage
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1353 PAARDEBURGH AVENUE Ottawa
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