422/424 NELSON STREET
Ottawa, Ontario K1N7S7

$2,180,000

ID# 1390444

Central air conditioning Forced air

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:25961)

LEARN MORE ABOUT THIS PROPERTY

Courtesy of SLEEPWELL REALTY GROUP LTD

Listed on: May 08, 2024

On market: 198 days

Year Built	1902
Cooling Type	Central air conditioning
Flooring Type	Laminate, Tile
Heating Type	Forced air
Heating Fuel	Natural gas
Stories Total	2

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Cheryl Jones, Sales Representative - Direct: 613.265.7566 – Office: 613.692.2555 – cheryljones@royallepage.ca

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422/424 NELSON STREET Ottawa, Ontario K1N7S7

Central air conditioning Forced air

YOU MIGHT ALSO LIKE THESE LISTINGS

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83 GRADY CRESCENT Nepean $639,000 Beds: 4 Baths:3 Sq Ft:ArrayCarolyn Bradley

8 SPINNEY WAY Ottawa $869,900 Beds: 5 Baths:3 Sq Ft:ArrayDavid Darling

185 A & B CARLETON AVENUE Ottawa $1,950,000 Beds: Baths: Sq Ft:ArrayTooryali (Javed) Sultani

232 ST PATRICK STREET Ottawa $1,799,900 Beds: Baths: Sq Ft:ArrayJack Marsala

2786 HIGHWAY 34 HIGHWAY Hawkesbury $1,250,000 Beds: 5 Baths:5 Sq Ft:ArrayCedrick Gauthier

146 ESTERBROOK DRIVE Ottawa $824,900 Beds: 2 Baths:2 Sq Ft:ArrayJason Pilon

179 GEORGE STREET UNIT1501 Ottawa $417,000 Beds: 2 Baths:1 Sq Ft:ArrayAmir El Attar

460 NORTH STREET UNITB Winchester $1,700 Beds: 2 Baths:1 Sq Ft:ArrayRyan Rogers

131 SUCCESSION COURT Stittsville $649,990 Beds: 3 Baths:3 Sq Ft:ArrayAdam Mills

105 CHAMPAGNE AVENUE S UNIT615 Ottawa $1,550 Beds: 0 Baths:1 Sq Ft:ArrayGlenn Floyd

611 RATHBURN LANE Ottawa $3,300 Beds: 4 Baths:4 Sq Ft:ArrayFardusa Warsame | Sales Representative

429 SOMERSET STREET UNIT408 Ottawa $465,000 Beds: 2 Baths:2 Sq Ft:ArrayDave Fletcher

324 LAURIER AVENUE UNIT809 Ottawa $614,900 Beds: 2 Baths:2 Sq Ft:ArrayAngelo Toscano

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158 SUNNYSIDE AVENUE Ottawa $4,988 Beds: 3 Baths:3 Sq Ft:ArrayNick Lalonde

216 CARILLON STREET UNIT1 Ottawa $1,950 Beds: 2 Baths:1 Sq Ft:ArrayThom Fountain

360 MCLEOD STREET UNIT720 Ottawa $2,500 Beds: 1 Baths:1 Sq Ft:ArrayInta Anderson

1215 KLONDIKE ROAD Ottawa $799,900 Beds: 3 Baths:1 Sq Ft:ArrayLiam Swords

177 CALABOGIE ROAD Arnprior $499,900 Beds: 2 Baths:1 Sq Ft:ArrayDonna Defalco

364 COOPER STREET UNIT403 Ottawa $850,000 Beds: 2 Baths:2 Sq Ft:ArrayRyan Cooper

747 BOOTHFIELD STREET Ottawa $1,170,000 Beds: 4 Baths:3 Sq Ft:ArraySara Stackhouse

35 OVERBERG WAY UNITD Kanata $495,000 Beds: 2 Baths:2 Sq Ft:ArrayNader Fetyan

7232 FRANKTOWN ROAD UNITD Ottawa $1,600 Beds: 1 Baths:1 Sq Ft:ArrayBalkaran Bajwa

203 CATHERINE STREET UNIT1007 Ottawa $2,100 Beds: 1 Baths:1 Sq Ft:ArrayKim Tran