340 LACASSE Avenue, Ottawa, Ontario K1L7A9

Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY.

$1,499,900
List Price
$1,499,900
Price Change
▼ $68,100 1709069310
MLS®
1370870
Days on Market
85
Status
ACTIVE
Type
Multifamily
Subtype
Multi-family
Lot Size Dimensions
52.3 ft X 86 ft
Subdivision
Vanier

Property Description

Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow (present return 5.94% cap). It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg security, lighting, cameras, intercom, washrooms, kitchens, laundry, added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof, secure doors, windows, garage renos +. Quality 6 unit building w 5 x 100% updated 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed @ 25K would increase return of +$10,680/yr + higher Net Income approx $99,801.00/yr with projected CAP rate 6.65% (buyer to verify). Easy to own & manage bldg! (id:5764)

Additional Information

Ownership
Freehold
Subdivision
Vanier
Parking Spaces
3
Cooling
Heat Pump
Country
Canada
Sewer
Municipal sewage system
Heating
Hot water radiator heat, Natural gas
Total Number Of Units
6
Stories
2

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks