5931 Perth Street Ottawa, Ontario K0A 2Z0

$3,565,000

Welcome to Richmond, the fast developing rural suburb of Ottawa in the heart of the Greenbelt. This is an incredible opportunity to invest in the residential rental property in the heart of Richmond at a a fair price. This property consists of 16 x one bedroom apartments of various sizes, average rent is $1,182/month, meaning there is significant upside potential. The owner has been renovating units as they become available, however there are a number that still need upgrading. The building is built on a slab so all units are direct walk-in and could easily be converted to a seniors residence. Unit sizes vary from 500sq ft to close to 800sq ft which provide potential to add a second bedroom and higher rents. The owner has also installed coin op washer and dryers plus a reverse osmosis water system that sells bottled water for additional income. Another feature is that the property enjoys a residential tax rate that is far lower than comparable properties. In considering this property, buyers should be aware that the property is slightly larger than an acre and given it's corner location on the main street it could easily provide the cornerstone of a land assembly. Property has been owner managed for 27yrs and all maintenance issues are dealt with promptly. (id:43934)

Business

BusinessType	Residential
BusinessSubType	Apartments
Name	Perth Inn Motor Hotel

Property Details

MLS® Number	X11228242
Property Type	Multi-family
Community Name	8204 - Richmond
AmenitiesNearBy	Recreation
Features	Conservation/green Belt
ParkingSpaceTotal	25

Building

Appliances	Dryer, Refrigerator, Stove, Washer, Water Treatment
HeatingType	Baseboard Heaters
SizeInterior	1.1 Ac
Type	Multi-family

Land

Acreage	No
LandAmenities	Recreation
SizeDepth	248 Ft ,9 In
SizeFrontage	150 Ft ,8 In
SizeIrregular	Bldg=150.67 X 248.75 Ft
SizeTotalText	Bldg=150.67 X 248.75 Ft
ZoningDescription	V3e[503r]

https://www.realtor.ca/real-estate/27688875/5931-perth-street-ottawa-8204-richmond