Financial information from the sale of this 4-Plex that SOLD in September, 2023

This 4-Unit property is located in West Centretown Ottawa, with 2 bachelor apartments and 2 1-bedroom units. The property was listed for $549,900 and sold for $525,000.

  • Scheduled Rental Income was $46,290
  • Effective Rental Income was $45,512
  • Operating expenses of $10,696
  • Total Operating Expenses, with 10% for maintenance/management $15,247
  • Net operating income of $30,265
  • Cap Rate was 5.76%
  • Operating Expense Ratio was 33.5%
  • Sold for 12 times the Gross Income
  • Sold for 17 times the Net Income

With a 22% down payment of $115,500, this leaves a mortgage of $409,500. At a 5.5% rate, amortized over 25 years, the monthly mortgage payment would be $2,500, for an Annual Debt Service of $30,000 (this is the annual mortgage payment).

The final cash flow on this building was $265 and the ROI (return on investment) was 0.23%.