340 LACASSE AVENUE$1,568,000

#1370870

N/A bed

N/A bath

About the Property

Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow. It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balconies, security lighting, cameras, intercom, washrooms, kitchens, laundry added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof, secure doors, windows+. Quality 6 unit building w 5 completely updated 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage into tenant storage lockers). One of the six one bedroom units has yet to be refreshed. Approximate cost 25K with an increased annual return of +$10,680 per yr post refresh would bring the already strong cashflow up to $99,152.00 and increases CAP rate to approx 6.32% (buyer to verify all info). (id:46641)

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Listing Agent

Jacen Matthews

Salesperson

(613) 296-8582

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Realtor.ca

Property Details

City: Ottawa

Neighbourhood: Vanier

Build Year: 1955

Property

Property Type

Multi-family

Ownership Type

Freehold

Land Depth

86 ft

Building

Storeys

2

Exterior Finish

Brick

Heating Type

Hot water radiator heat

Cooling Type

Heat Pump

Foundation Type

Poured Concrete

Parking Space Total

3

Measurements

Additional Info

Listing Contract Date

2023-12-04

Zoning Description

R4UD

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