229 days on Market

422/424 NELSON St, Ottawa, Ontario K1N 7S7

Townhouse
-
-
- sqft
$2,180,000
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Townhouse
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Highlights

Estimated ValueNot available

Price/Sqft-

Est. Mortgage$9,362/mo

Tax Amount (2023)$16,389/yr

Days On Market229 days


Description

Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed 2 bth - all on master leases. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining.


Property Details

Style4 Plex
View-
Age of property1902
SqFt-
Lot Size375 SqM(30.83 x 12.18)
Parking Spaces4
MLS ®Number1390444
Community NameSandy Hill - Ottawa East
Data SourceOREB
Listing bySLEEPWELL REALTY GROUP LTD

Features

Heating: Forced Air
Cooling: Central Air Conditioning
Basement: Full,Other (See Remarks), Partly Finished

Features

Lot size: 375 SqM

Parking

Garage spaces -

Garage type -

Total parking spaces 4


Property listed by SLEEPWELL REALTY GROUP LTD, Brokerage

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Population and Demographics

Overview

Total population 9471
Average household income $131,814

Age (%)

20 to 34
41%
0 to 19
16%
35 to 49
15%
50 to 64
15%
65 and plus
13%

Household composition (%)

Single person
51%
Single family
34%
Multi person
15%
Multi family
0%

Mother tongue (%)

English
59%
French
21%
English and French
4%
Others
4%
Arabic
4%
Mandarin
2%
Spanish
2%
French and non-official language(s)
2%

House tenancy (%)

Renters
76%
Owners
24%

Schools and amenities

Estimated Budget