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276 Powell Ave

Powell Ave, Old City, Ottawa, ON, K1S 2A5

-
Beds
-
Baths
$1,899,900
List Price
Details
Photos
30
Comparables
History
276 Powell Ave, Ottawa, ON - 1 of 3
276 Powell Ave, Ottawa, ON - 2 of 3
276 Powell Ave, Ottawa, ON - 3 of 3
76 days on market

Quick Summary

  • Lucrative 6.1% cap rate property
  • Dedicated short-term rental property
  • Legally non-conforming hotel with permit
  • Zoned for commercial/mixed use
  • Excellent cash flow and growth potential
  • Completely rebuilt as legal triplex
  • Independent heating systems for each unit
  • Hydronic heating in basement unit

6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City’s principal residence requirement for STR (Airbnb). Classified as a “legally... Show More

6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City’s principal residence requirement for STR (Airbnb). Classified as a “legally non-conforming hotel” with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout. Summer STR revenue will be HOT! Act Now! (id:54626)

Additional Media

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Property Details

Parking

4 Parking Spaces
Surfaced

Lot

Size
480′ * 1187′11″
Acres
-

Build

Year Built
1922
Model Name
-
Basement
Finished
Exterior
Brick, Vinyl
Foundation
Block, Poured Concrete
Builder Name
-
Stories
3
Flooring
Laminate, Tile, Other
Roof
-

Heating & Cooling

Heating
Forced air, Other
Cooling
Central air conditioning, Air exchanger

Utilities

Water
Municipal water
Sewer
Municipal sewage system
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Source

Listing Brokerage

MLS® Listing
1374601
Last Updated
May 15, 2024
Brokerage
SUTTON GROUP - OTTAWA REALTY
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Call us 800-591-0566

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