340 Lacasse Avenue Ottawa, Ontario K1L 7A9
$1,550,000
LOOK AT THESE NUMBERS! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 5.86% cap with GOI $113,892.00 and NOI $90,783.00). It has been extensively renovated, boasting a high level of security and very stable tenants. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg security, lighting, cameras, intercom, washrooms, kitchens, laundry added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof, secure doors, windows, garage renos +. Quality 6 unit building w 5 x 100% updated suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure that generates $850 in rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed at a cost of approx 25K which would increase return of +$12,948.00 per year with a higher Net Income of approx $103,731/yr. This has a projected CAP rate 6.7% (buyer to verify). Easy to own & manage bldg! (id:50886)
Property Details
| MLS® Number | X12036179 |
| Property Type | Multi-family |
| Community Name | 3404 - Vanier |
| Parking Space Total | 3 |
Building
| Bathroom Total | 6 |
| Bedrooms Above Ground | 4 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 6 |
| Appliances | Water Heater, All |
| Basement Development | Partially Finished |
| Basement Features | Apartment In Basement |
| Basement Type | N/a (partially Finished) |
| Cooling Type | Wall Unit |
| Exterior Finish | Brick |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 2 |
| Size Interior | 2,000 - 2,500 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 86 Ft |
| Size Frontage | 52 Ft ,3 In |
| Size Irregular | 52.3 X 86 Ft |
| Size Total Text | 52.3 X 86 Ft |
| Zoning Description | R4ud |
https://www.realtor.ca/real-estate/28061974/340-lacasse-avenue-ottawa-3404-vanier
Contact Us
Contact us for more information
Jacen Matthews
Salesperson
www.ottawadwellings.com/
787 Bank St Unit 2nd Floor
Ottawa, Ontario K1S 3V5
(613) 422-8688
(613) 422-6200
ottawacentral.evrealestate.com/
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April 08 2025 12:52:24
Ottawa Real Estate Board
Engel & Volkers Ottawa