438 Lewis Street Ottawa, Ontario K2P 0T3

$1,150,000

Turnkey five-unit apartment building in Centretown offering immediate income and longer-term development potential. Over 300k in capital improvements over the last 10 years.The property is fully occupied and consists of three one-bedroom apartments and two bachelor units, with annual gross income of just over $79,000. The property may qualify for attractive CMHC MLI Select financing. Tenants pay their own hydro, while the landlord pays for heat and water. Additional income may be available from the on-site parking. The property sits on a 33' 99' lot and may be assembled with adjoining properties to create a development site of approximately 13,000 square feet. This property has a Walk Score of 100/100! Ideally located within walking distance of downtown, public transit, restaurants, shops and other amenities. A strong opportunity to acquire a stabilized income property with financing, rental and redevelopment upside. Contact the listing agent for further details regarding the potential land assembly, the rent roll & operating expenses. (id:43934)

Business

Business Type	Residential
Business Sub Type	Apartments

Property Details

MLS® Number	X13773468
Property Type	Multi-family
Neigbourhood	Centretown
Community Name	4103 - Ottawa Centre
Parking Space Total	3

Building

Bathroom Total	5
Bedrooms Total	5
Cooling Type	None
Heating Type	Baseboard Heaters
Size Interior	2,500 Sqft
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Size Depth	99 Ft
Size Frontage	33 Ft ,1 In
Size Irregular	33.1 X 99 Ft
Size Total Text	33.1 X 99 Ft
Zoning Description	Tbc N4

https://www.realtor.ca/real-estate/30267034/438-lewis-street-ottawa-4103-ottawa-centre