Description
Exceptional income producing property with strong cash flow and significant future redevelopment potential. Situated on a large 153 ft. x 67 ft. corner lot with access from two sides, this fully tenanted property is ideally located along St. Laurent Boulevard and offers a rare combination of immediate income and long term upside. The property features 10 bedrooms and 3.5 bathrooms and generates approximately $91,872 in annual rental income, with a reported Net Operating Income of approximately $62,900 per year. Located in a high demand rental area close to CHEO, the Ottawa General Hospital, transit, shopping and everyday amenities, the property offers flexibility for investors looking to continue operating it as a strong cash flowing rental while exploring future redevelopment opportunities. The anticipated new zoning is CM2, which is expected to permit higher density development with building heights of up to approximately 20 metres. Whether your strategy is to hold for income, reposition the property, or plan for future redevelopment, this is a compelling opportunity in a well located and evolving area of Ottawa. Buyers are advised to independently verify zoning, permitted uses, development potential and all financial information (id:13843)
Details
| MLS # | X14028688 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Status | Active |
| Days On Site | 13 |
| Listing Provided By | ROYAL LEPAGE INTEGRITY REALTY | Sorin Vaduva |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 1,100 |
| Garage | 6 |
| Basement | Y |
| Story(s) | 1 |
| Zoning | CM2[2208] H(20) - Minor Corridor |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Refrigerator, Water Heater - Tankless, Water Heater |
| Fireplace Yes / No | Yes |
Exterior
| Security Features | Smoke Detectors, Monitored Alarm |
|---|---|
| Foundation Details | Concrete |
| Fencing | Fenced yard |
Parking
| Parking Features | Attached Garage, Garage |
|---|---|
| Parking Total | 6 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 5057.75 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Ottawa |
| Postal Code | K1G1B6 |
| Listing VS Median (in K1G1B6) | |
Price: $1,100,880 low | high Med: $1,100,880 sqft: 1,100 low | high Med: 1,100 $ / sqft: $1,001 low | high Med: $1,001 On site: 13 low | high Med: 13 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Ottawa |
| Postal Code | K1G1B6 |
| Listing VS Median (in K1G1B6) | |
Price: $1,100,880 low | high Med: $1,100,880 sqft: 1,100 low | high Med: 1,100 $ / sqft: $1,001 low | high Med: $1,001 On site: 13 low | high Med: 13 | |