A rare multi unit gem in one of Ottawa's Most Coveted Neighborhoods. Welcome to a premier, fully tenanted investment opportunity in Old Ottawa South. Perfectly positioned on an expansive 30' x 161' lot, this property offers the ultimate combination of immediate cash flow and future development potential. The property boasts a major 3,000 sq. ft. addition completed in 2017, bringing the total to four self-contained, high-yielding apartments (one 3 bed, two 2 beds, and one 1 bed). Every unit benefits from the convenience of private, in unit laundry, a massive draw for top tier tenants. The original front unit has been tastefully modernized with gleaming hardwood floors, granite countertops, contemporary cabinetry, and a renovated bath. Mechanically, this building is a dream for hands off investors. It features updated roofing (2017), a 2017 sump pump, and independent climate controls. Utilities are efficiently split across 3 hydro meters, 3 gas meters, and 1 water meter. Currently generating a strong $11,349.31 in gross monthly rental income with a 6.3% cap rate, this property is rock-solid. Best of all? The City of Ottawa has indicated potential for a 5 plex conversion, giving you a clear path to instantly boost your equity and revenue whenever you're ready. Building is legal as it stands. Current total gross monthly rental income is $11,349.31. Annual gross income: $131,055.00. Annual expenses: $24,288.30. Annual net income: $106,766.70. Motivated vendor. PROPERTY SOLD AS IS WHERE IS. (id:53622)
| MLS® Number | X13199044 |
| Property Type | Multi-family |
| Community Name | 4403 - Old Ottawa South |
| Equipment Type | Water Heater |
| Rental Equipment Type | Water Heater |
| Appliances | Dishwasher, Dryer, Washer |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 4,782 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 161 Ft ,11 In |
| Size Frontage | 30 Ft ,4 In |
| Size Irregular | 30.36 X 161.96 Ft |
| Size Total Text | 30.36 X 161.96 Ft |
| Zoning Description | R3 |
https://www.realtor.ca/real-estate/29813892/26-aylmer-avenue-ottawa-4403-old-ottawa-south
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Real Estate Data supplied by CREA®’s MLS® System. CREA® is the owner of the copyright in its MLS® System. Data deemed reliable but not guaranteed accurate by CREA®. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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