This income property had Three Apartments and was not fire retrofit. It sold for under list price.
This building was listed at $1,090,000 and sold for $1,000,000. The buyer paid 16 times the gross income and 23 times the net income of the property.
With a 35% downpayment of $350,000, this purchaser is seeing a Cap Rate of 4.28%, a cash flow of $5897 and a return on investment of 1.68%
Have a look at all of the Income Properties for Sale in Ottawa