Property Information:
Income-generating property featuring two semi-detached homes, each with basement apartments, ideally located within walking distance to Algonquin College. This prime location offers easy access to LRT station(when completed), public transit, and a wide array of nearby amenities including shopping, schools, restaurants, parks, and everyday conveniences making it highly attractive to students, professionals, and long-term tenants alike. The property generates a strong gross annual rental income of $70,972.08, with tenants paying all utilities, keeping operating costs low generating higher NOI. The building is equipped with 4 hydro meters, 2 gas meters, and water sub-metering for efficient and transparent utility management. Basement units are heated by electric baseboard, while the upper units feature forced-air natural gas heating, offering independent and reliable climate control throughout.Under the City of Ottawa's proposed Official Plan, the property is anticipated to fall under MS2 H zoning, which allows for a wide range of mixed-use and intensified development options, subject to City approvals. This zoning framework provides significant long-term redevelopment and value-add potential at this highly desirable, transit-oriented location. A rare opportunity to acquire a high-performing income property with excellent holding income today and exceptional redevelopment potential for the future. (id:27)
Building Features:
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Style:
Multiplex
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Building Type:
Fourplex
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Basement Development:
Finished
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Basement Type:
Full
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Exterior Finish:
Brick
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Floor Space:
2500 - 3000 sqft
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Foundation Type:
Block
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Heating Type:
Forced air
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Heating Fuel:
Natural gas
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Cooling Type:
None
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Appliances:
Dishwasher, Dryer, Stove, Washer, Refrigerator
