340 Lacasse Avenue Ottawa, Ontario K1L 7A9
$1,568,000
Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow. It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balconies, 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+. Quality 6 unit building w 5 completely updated 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage into tenant storage lockers). One of the six one bedroom units has yet to be refreshed. Approximate cost 25K with an increased annual return of +$10,680 per yr post refresh would bring the already strong cashflow up to $99,152.00 and increases CAP rate to approx 6.32% (buyer to verify all info). (id:50133)
Property Details
| MLS® Number | 1370870 |
| Property Type | Multi-family |
| Neigbourhood | Vanier |
| ParkingSpaceTotal | 3 |
Building
| ConstructedDate | 1955 |
| CoolingType | Heat Pump |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Hot Water Radiator Heat |
| StoriesTotal | 2 |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| SizeDepth | 86 Ft |
| SizeFrontage | 52 Ft ,4 In |
| SizeIrregular | 52.3 Ft X 86 Ft |
| SizeTotalText | 52.3 Ft X 86 Ft |
| ZoningDescription | R4ud |
https://www.realtor.ca/real-estate/26334411/340-lacasse-avenue-ottawa-vanier
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Jacen Matthews
Salesperson
165 Pretoria Avenue
Ottawa, Ontario K1S 1X1
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December 05 2023 04:11:08
Ottawa Real Estate Board
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