Property Information:
6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City’s principal residence requirement for STR (Airbnb). Classified as a “legally non-conforming hotel” with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout. Summer STR revenue will be HOT! Act Now! (id:27)
Building Features:
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Style:
Triplex
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Building Type:
Triplex
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Amenities:
Furnished
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Basement Development:
Finished
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Basement Type:
Full
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Construction Material:
Wood frame
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Construction Style - Attachment:
Attached
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Exterior Finish:
Brick, Vinyl
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Flooring Type:
Laminate, Tile, Other
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Foundation Type:
Block, Poured Concrete
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Heating Type:
Forced air, Other
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Heating Fuel:
Natural gas
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Cooling Type:
Central air conditioning, Air exchanger
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Appliances:
Blinds
