Flooring: Tile, Seize this rare opportunity to build a lucrative investment property in the heart of Westboro. Whether you choose to proceed w/ the approved 6-unit building or explore the potential for up to 12 units in it's R4UB zoning, this property offers unparalleled possibilities. The approved architectural plans include 9' ceilings, large sunlit windows, an elevator for convenience, a rooftop space for relaxation, dedicated parking, and a bike/garbage shed in the back. Unit Breakdown:Two luxurious 3-bedroom + den, 2.5-bath units w/ in-unit storage (each 1850 sqft) ideal to live in; One 2-bedroom unit; One 1-bedroom + den unit & Two 1-bedroom units. W/ a strategic unit mix, the projected annual rental income is an impressive $256,800. After a 20% projected expense of $38,520, the expected NOI is $218,280, reflecting a solid 5.5% cap rate w/ potential for growth. It provides immediate income while you plan for the future. Act now to secure this prime Westboro investment. Some pics virtually staged, Flooring: Hardwood (id:2493)
Data was last updated December 6, 2024 at 09:45 AM (UTC)
Area Statistics
Listings on market:
158
Avg list price:
$801,450
Min list price:
$288,000
Max list price:
$3,998,000
Avg days on market:
168
Min days on market:
123
Max days on market:
550
Avg price per sq.ft.:
$430
These statistics are generated based on the current listing's property type
and located in
Ottawa. Average values are
derived using median calculations.
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