Sandy Hill (Ottawa, Ontario, CA - K1N 7X5)
$1,400,000


"Multi Unit on Large Lot " 
Coldwell Banker First Ottawa Realty


 
Details

Address: 250 RUSSELL AVE
Type: Residential
Style:  Triplex
Development Level: Built
Bedrooms: 9
Bathrooms: 3
Basement: Yes
Lot Size: 33.01ft x 148ft
Year Built: 1920 "Approx"
Taxes: $9,574.00 (2021)
MLS® #: 1259152
 
Description

Calling all investors, contractors or anyone looking for a fall/winter project...opportunity knocks in desirable Sandy Hill! This solid concrete block building sits on an extra deep 148-foot lot with possibility to build or develop the back of the property. Proper parking lot lines could be added to the back of the property to collect additional parking fees, or its easily turned into a family backyard. Currently used as student rentals with a total of 13 rooms, this property is technically a triplex with a non-conforming 4th unit. Unit 1 is 4 bedrms. Units 2, 3 & 4 are all 3 bedrms. Two tenants are month-month, one Tenant is on a new 1-year lease, and one Tenant is on a new 8-month lease (the other rooms are vacant). If the property was fully occupied the estimated annual income would be $103,020 with estimated expenses of $25,715, estimated NOI of $77,305 (estimated cap rate of 5.5%). Updates include roof 2020, all windows 2021. 24 hours' notice for showings on Tenant occupied units.
 
Highlights

5.5% Cap Rate

Brokered and Advertised by:
   Sorin Vaduva Real Estate
 
P2#470657679

Information is deemed to be correct but not guaranteed.

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