174 ETHEL STREET$810,000

An investors golden opportunity awaits with this ready-to-go building project offering the potential for a 6-unit building! With plans & permits, this property allows you to dive into construction without delay. NOTE: An artist's rendering gives a glimpse of the planned building, minor variances might allow for more units. Projected Rents are as followed: 1-1bedroom for $1650/mo and 5-2 bedroom units, $2350/mo = $160,800 gross income / yr... with Projected Operating expenses $38500/yr with NOI of $122,300/yr or 4.5% cap rate. Situated near a plethora of amenities, recreational facilities & cultural landmarks, the New Edinburgh Community & Art Centre the allure of this location extends beyond its immediate surroundings. Just a stone's throw away lies the iconic Byward Market, Global Affairs Canada, restaurants & cafés, shopping & so much more! This property also offers an easy access to the Alexandra & Macdonald-Cartier bridges facilitating seamless connectivity to neighboring areas. (id:46641)