LOADING

422/424 Nelson Street Ottawa, Ontario K1N 7S7

Central Air Conditioning Forced Air

$2,250,000

Fantastic 6.1% CAP 4plex with opportunity to increase cashflow by approx. $33K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed 2 bth. All suites are tenanted on 1 master lease and not rented by the room. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill neighbourhood. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining. (id:50886)

Property Details

MLS® Number 1390444
Property Type Multi-family
Neigbourhood Sandy Hill
AmenitiesNearBy Public Transit, Recreation Nearby, Shopping
ParkingSpaceTotal 4

Building

BasementDevelopment Partially Finished
BasementType Full (partially Finished)
ConstructedDate 1902
ConstructionStyleAttachment Attached
CoolingType Central Air Conditioning
ExteriorFinish Brick, Siding
FlooringType Laminate, Tile
HeatingFuel Natural Gas
HeatingType Forced Air
StoriesTotal 2
Type Fourplex
UtilityWater Municipal Water

Parking

Open
Tandem

Land

Acreage No
LandAmenities Public Transit, Recreation Nearby, Shopping
Sewer Municipal Sewage System
SizeDepth 101 Ft ,2 In
SizeFrontage 39 Ft ,11 In
SizeIrregular 39.95 Ft X 101.14 Ft
SizeTotalText 39.95 Ft X 101.14 Ft
ZoningDescription Res

https://www.realtor.ca/real-estate/26865026/422424-nelson-street-ottawa-sandy-hill

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Adam Pearce
Salesperson


Sleepwell Realty Group Ltd
423 Bronson Ave
Ottawa, Ontario K1R 6J5

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