340 Lacasse Avenue, Ottawa, K1L7A9

Home Overview

Description

LOOK AT THESE NUMBERS: NET INCOME $92,583.00!!! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 6.193% cap with GOI $115,392.00 and NOI $92,583.00/increases to $95,919.00 as of Oct 1st when Unit #1 turns over). 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 (30K 2024), 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 $950 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 +$13,272.00 per year with a higher Net Income of approx $109,191.00/yr. This has a projected CAP rate 7.3% (buyer to verify). Easy to own & manage bldg! Min 24 hours notice for all showings please. (id:39198)

38 days

On Market

Multi-family

Property Type

$6,197 / Year

Est. Taxes

Other

Style

-

Garage

Partially finished, Apartment in basement, N/A

Basement

Location & Areas