1824 FORMAN AVENUE$899,999

#1325910

3 + 3 bed

2 bath

About the Property

RARE OFFERED INVESTMENT OPPORTUNITY - GREATER THAN 5% CAPITALIZATION RATE. See attached document. 1824 Forman Avenue is located in the prestigious Bel-Air Heights with an incredible location being only a 6 minute walk to Algonquin College. This bungalow has been converted to a LEGAL SECONDARY DWELLING in 2021 with all the proper channels followed. The upper unit is rented at $2400 + hydro until April 1st 2023, and the lower unit is rented at $2200 + hydro until August 1st 2023 (separate 100 amp panels). Amazing tenants in both units (2 leases total). Each unit has 3 bedrooms 1 bathroom, 2 parking spots, private deck and own laundry. Massive $55,200 annual income (with potential to increase + parking rental), with $45,986 net. An investor or end users dream. Amazing opportunity to add a turnkey investment to your portfolio with little maintenance. SDU 2021, Upstairs Reno 2021, Roof 2010, furnace 2014, A/C 2014, HWT 2022, Downspouts, Gutter Helms 2022, fence 2021 (id:46641)

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Listing Agent

Nick Doumkos

Salesperson

(613) 406-0600

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Property Details

City: Ottawa

Neighbourhood: Bel Air Heights

Build Year: 1960

Property

Property Type

Single Family

Ownership Type

Freehold

Land Depth

86 ft ,2 in

Building

Bedrooms Above Grade

3

Bedrooms Below Grade

3

Bathrooms

2

Basement Development

Finished

Basement Type

Full (Finished)

Storeys

1

Building Style

House

Architecture Style

Bungalow

Exterior Finish

Brick

Heating Type

Forced air

Cooling Type

Central air conditioning

Appliances Included

Refrigerator, Dishwasher, Dryer, Microwave, Stove, Washer

Foundation Type

Poured Concrete

Number of Units

Bungalow

Parking Space Total

4

Measurements

Main level

Bedroom

10'7 x 10'3

3pc Bathroom

6'11 x 6'6

Living room/Fireplace

13'6 x 9'2

Bedroom

11 ft x Measurements not available

Dining room

12'4 x 9'7

Bedroom

18 ft x Measurements not available

Kitchen

13'6 x 9'6

Lower level

Kitchen

10 ft x Measurements not available

Bedroom

14 ft x Measurements not available

Living room

14 ft x Measurements not available

Bedroom

Measurements not available x 11 ft

Bedroom

9'9 x 10'1

3pc Bathroom

11'4 x 7'2

Additional Info

Listing Contract Date

2023-01-08

Zoning Description

Residential

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