Ottawa Realtor Michele Xu

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422/424 NELSON STREET

Ottawa, Ontario K1N7S7

$2,180,000 for sale

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MLS®:
1390444
Contract Days:
197
Community:
Sandy Hill
Ownership:
Property Type:
RES Fourplex , Attached
Total Size:
39.95 ft X 101.14 ft
Built Date:
1902
Parking:
4
Bedrooms:
+
Bathrooms:
Interior Features
Construction Style:
Attached
Total Stories:
2
Total Bedrooms:
Bedrooms Above Ground:
Bedrooms Below Ground:
Total Bathrooms:
Whole Bathrooms:
0
Half Bathrooms:
Basement Type:
Full (Partially finished)
Basement Development:
Partially finished
Appliances:
Exterior Features
Built Date:
1902
Exterior Finish:
Brick, Siding
Foundation Type:
Utitilies
Heating Type:
Forced air
Heating Fuel:
Natural gas
Cooling Type:
Central air conditioning
Utility Water:
Municipal water
Sewer:
Municipal sewage system
Total Fireplaces:
Type
Level
Size

Note

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:19004)

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