123-125 Pamilla Street, Ottawa, Ontario K1S3K9

Listing courtesy of KELLER WILLIAMS INTEGRITY REALTY.

$1,999,888
List Price
$1,999,888
MLS®
1269803
Days on Market
22
Status
ACTIVE
Type
Multifamily
Subtype
Multi-family
Lot Size
4,791
Subdivision
Little Italy

Property Description

Cash flow now, develop any time! Extremely rare opportunity to own two side-by-side properties adding up to a 50x100 land assembly in the heart of Little Italy, right off of Preston Street. With R4 zoning this land assemblys highest and best use is a future low-rise apartment building between 12 and 20 units. This assembly already meets frontage and lot area requirements for low-rise development. Why purchase land producing zero income while waiting to develop? Cash flow these high-producing units until the time is right to break ground, whether your timeline is 12 months from now or 12 years. 123 Pamilla has four self-contained rental units 3 short-term rentals, 1 long-term; total $8,126/month incl. coin-op laundry. 125 Pamilla is a 5-bedroom single family home rented by the room - 4 long-term, 1 short-term; total $3596/month. Gross operating income over $140,000. Net income approximately $119,000. (id:2579)

Additional Information

Ownership
Freehold
Heating Fuel
Natural gas, Electric
Subdivision
Little Italy
Parking Spaces
7
Levels
3
Country
Canada
Sewer
Municipal sewage system
Frontage Length
50 ft
Heating
Baseboard heaters, Forced air
Total Number Of Units
5
Stories
3
Lot Size
4,791

Mortgage Calculator

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Term of Loan
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Calculator source: Real Geeks