Financials from the sale of this 8 Unit multi family property
This property had 8 units, it was a mix of bachelor, 1 and 2 bedroom apartments and one commercial. It was fire retrofit. It was located in West Centre Town.
This property was listed for $1,699,000 and sold for 1,520,000, it had 7 residential apartments and one commercial unit.
Looking closer at the numbers, if you had a down payment of 35%, which is $532,000, you would see a negative cash flow of $9,574 per year, or a Return on Your Investment of -1.8%. The Cap Rate on this building is 3.06%.
You would be left with a mortgage of $988,000 and with a mortgage rate of 3% the monthly payment would be $4,676 amortized over 25 years.
Are you looking to invest in multi-unit buildings in the Ottawa area, we can help you, have a look at listings to begin. Multi-Family Property for sale.
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Patrick Walchuk 613-788-2590