422 424 Nelson Street, Ottawa
- Added: 162 days ago
- Updated: 9 days ago
- Last Checked: 11 hours ago
Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K 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 on master leases. 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. 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:1945)
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Property Details
- Cooling: Central air conditioning
- Heating: Forced air, Natural gas
- Stories: 2
- Year Built: 1902
- Structure Type: Fourplex
- Exterior Features: Brick, Siding
Interior Features
- Basement: Partially finished, Full
- Flooring: Tile, Laminate
Exterior & Lot Features
- Water Source: Municipal water
- Parking Total: 4
- Parking Features: Open, Tandem
- Lot Size Dimensions: 39.95 ft X 101.14 ft
Business & Leasing Information
- Existing Lease Type: Other, See Remarks
Utilities & Systems
- Sewer: Municipal sewage system
Tax & Legal Information
- Tax Year: 2023
- Parcel Number: 042090142
- Tax Annual Amount: 16389
- Zoning Description: RES
Additional Features
- Number Of Units Total: 4
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