340 LACASSE Avenue, Ottawa, Ontario K1L7A9

Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY.

$1,568,000
List Price
$1,568,000
MLS®
1370870
Days on Market
78
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. It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balconies, 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+. Quality 6 unit building w 5 completely 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 into tenant storage lockers). One of the six one bedroom units has yet to be refreshed. Approximate cost 25K with an increased annual return of +$10,680 per yr post refresh would bring the already strong cashflow up to $99,152.00 and increases CAP rate to approx 6.32% (buyer to verify all info). (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
%
Term of Loan
Years

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