This is a fantastic opportunity to own a turn key 8-unit investment property, with phenomenal cash flow! Perfectly situated only steps from Lebreton Flats, Little Italy and Chinatown, in a community filled with a diversity of restaurants, cozy cafes and all the amenities of living downtown. Public transit is within a block with quick access to the LRT station which runs through Lebreton Flats. Gross income of $138k+ with an NOI of $102k+. This is an outstanding investment opportunity at a 6.4% cap rate. This building is well maintained and in great condition with recently renovated units and a solid tenant base comprised primarily of young professionals. This building is extremely easy to manage and boasts a cooperative relationship between the owner and the tenants. All units are located above-grade and comprised of 3 spacious and bright two-bedroom units, two one-bedroom units and three bachelor suites. The impressive top floor two-bedroom unit was recently fully renovated with a new kitchen, new bathroom, full interior painting, new laminate flooring and fixtures throughout. A profitable coin operated laundry is in the basement with ample storage space for tenants. The property sits on a 71 x 46 lot with R4UB zoning and the spacious side lot (which currently holds 7 parking spaces) offers the potential for future development opportunity to add additional units. (id:61594)
| Business Type | Residential |
| Business Sub Type | Apartments |
| MLS® Number | X11960040 |
| Property Type | Multi-family |
| Community Name | 4205 - West Centre Town |
| Parking Space Total | 7 |
| Appliances | Dryer, Refrigerator, Stove, Washer |
| Heating Fuel | Natural Gas |
| Heating Type | Other |
| Size Exterior | 3000 Sqft |
| Size Interior | 3,000 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 46 Ft ,1 In |
| Size Frontage | 71 Ft ,4 In |
| Size Irregular | Bldg=71.41 X 46.16 Ft |
| Size Total Text | Bldg=71.41 X 46.16 Ft |
| Zoning Description | R4ub |
https://www.realtor.ca/real-estate/27886032/4-eccles-street-ottawa-4205-west-centre-town
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