This is a fantastic opportunity to own a turn key 8-unit investment property, with phenomenal cash flow! Perfectly situated only steps from Lebreton Flats, Little Italy and Chinatown, in a community filled with a diversity of restaurants, cozy cafes and all the amenities of living downtown. Public transit is within a block with quick access to the LRT station which runs through Lebreton Flats. Gross income of $138k+ with an NOI of $102k+. This is an outstanding investment opportunity at a 6.4% cap rate. This building is well maintained and in great condition with recently renovated units and a solid tenant base comprised primarily of young professionals. This building is extremely easy to manage and boasts a cooperative relationship between the owner and the tenants. All units are located above-grade and comprised of 3 spacious and bright two-bedroom units, two one-bedroom units and three bachelor suites. The impressive top floor two-bedroom unit was recently fully renovated with a new kitchen, new bathroom, full interior painting, new laminate flooring and fixtures throughout. A profitable coin operated laundry is in the basement with ample storage space for tenants. The property sits on a 71 x 46 lot with R4UB zoning and the spacious side lot (which currently holds 7 parking spaces) offers the potential for future development opportunity to add additional units. (id:4069)
Address
4 ECCLES STREET
List Price
$1,595,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Area
Ontario
Sub-Area
Ottawa
Floor Area
3,000 Sq. Ft.
Lot Size
Bldg=71.41 x 46.16 FT Sq. Ft.
MLS® Number
X11960040
Listing Brokerage
CAPITAL COMMERCIAL INVESTMENT CORP.
Postal Code
K1R6S2
Zoning
R4UB
