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$ 2,180,000
Est. payment /mo
Active
422/424 NELSON ST Ottawa, ON K1N 7S7
UPDATED:
Key Details
Property Type Other Types
Sub Type Multifamily
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1390444
Year Built 1902
Annual Tax Amount $16,389
Tax Year 2023
Property Sub-Type Multifamily
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.
Location
Province ON
Rooms
Basement Full, Other (See Remarks)
Interior
Heating Natural Gas
Flooring Laminate, Tile
Exterior
Parking Features Open, Tandem
Building
Dwelling Type 4 Plex
Story 2
Sewer Sewer Connected
Water Municipal
Structure Type Brick,Siding
Listed by SLEEPWELL REALTY GROUP LTD