422/424 Nelson Street Ottawa, Ontario K1N 7S7

$2,180,000

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. (id:43934)

Property Details

MLS® Number	1390444
Property Type	Multi-family
Neigbourhood	Sandy Hill
AmenitiesNearBy	Public Transit, Recreation Nearby, Shopping
ParkingSpaceTotal	4

Building

BasementDevelopment	Partially Finished
BasementType	Full (partially Finished)
ConstructedDate	1902
ConstructionStyleAttachment	Attached
CoolingType	Central Air Conditioning
ExteriorFinish	Brick, Siding
FlooringType	Laminate, Tile
HeatingFuel	Natural Gas
HeatingType	Forced Air
StoriesTotal	2
Type	Fourplex
UtilityWater	Municipal Water

Parking

Open
Tandem

Land

Acreage	No
LandAmenities	Public Transit, Recreation Nearby, Shopping
Sewer	Municipal Sewage System
SizeDepth	101 Ft ,2 In
SizeFrontage	39 Ft ,11 In
SizeIrregular	39.95 Ft X 101.14 Ft
SizeTotalText	39.95 Ft X 101.14 Ft
ZoningDescription	Res

https://www.realtor.ca/real-estate/26865026/422424-nelson-street-ottawa-sandy-hill