340 Lacasse Avenue Ottawa, Ontario K1L 7A9
$1,499,900
Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow (present return 5.94% cap). It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg 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, garage renos +. Quality 6 unit building w 5 x 100% 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 to tenant storage lockers). One of the six one bedroom units has yet to be refreshed @ 25K would increase return of +$10,680/yr + higher Net Income approx $99,801.00/yr with projected CAP rate 6.65% (buyer to verify). Easy to own & manage bldg! (id:44788)
Property Details
| MLS® Number | 1370870 |
| Property Type | Multi-family |
| Neigbourhood | Vanier |
| Parking Space Total | 3 |
Building
| Constructed Date | 1955 |
| Cooling Type | Heat Pump |
| Exterior Finish | Brick |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Stories Total | 2 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 86 Ft |
| Size Frontage | 52 Ft ,4 In |
| Size Irregular | 52.3 Ft X 86 Ft |
| Size Total Text | 52.3 Ft X 86 Ft |
| Zoning Description | R4ud |
https://www.realtor.ca/real-estate/26334411/340-lacasse-avenue-ottawa-vanier
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Ottawa Real Estate Board
Royal LePage Performance Realty
March 25 2024 07:12:51
