422/424 NELSON ST Active Save Request In-Person Tour Request Virtual Tour
Lower Town - Sandy Hill,ON K1N 7S7
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID X9425153
Style Unknown
Annual Tax Amount $16,389
Tax Year 2023
Property Description
Flooring: Tile, Flooring: Laminate, 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.
Location
Province ON
County Ottawa
Zoning RES
Rooms
Basement Other,Full,Partially Finished
Interior
Interior Features Unknown
Cooling Central Air
Exterior
Garage Unknown
Garage Spaces 4.0
Roof Type Unknown
Parking Type Public
Total Parking Spaces 4