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422/424 Nelson Street

Nelson St, Old City, Ottawa, ON, K1N 7S7

-
Beds
-
Baths
$2,180,000
List Price
Details
Photos
21
Comparables
History
422/424 Nelson Street, Ottawa, ON - 1 of 3
422/424 Nelson Street, Ottawa, ON - 2 of 3
422/424 Nelson Street, Ottawa, ON - 3 of 3
198 days on market

Quick Summary

  • Stable 4-plex with 4 never-vacant student rentals
  • Opportunity to increase cashflow by $36K with 2 vacant studio spaces
  • Excellent 6.32% CAP rate with NET income of $137,734
  • Centrally located near University of Ottawa, Rideau Canal, parks
  • Tenants pay all utilities except water
  • Operated under single management for over 5 years
  • Vacant units are highly sought after by renters
  • Permit-ready vacant studio spaces for development

Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed... Show More

Fantastic 6.32% CAP, NET $137,734, 4plex with opportunity to increase cashflow by approx. $36K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bth, 2-5 bed 2 bth - all on master leases. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining. (id:54626)

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Property Details

Parking

4 Parking Spaces
Open,Tandem

Lot

Size
478′12″ * 1213′12″
Acres
-

Build

Year Built
1902
Model Name
-
Basement
Partially finished
Exterior
Brick, Siding
Foundation
-
Builder Name
-
Stories
2
Flooring
Laminate, Tile
Roof
-

Heating & Cooling

Heating
Forced air
Cooling
Central air conditioning

Utilities

Water
Municipal water
Sewer
Municipal sewage system
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Source

Listing Brokerage

MLS® Listing
1390444
Last Updated
October 8, 2024
Brokerage
SLEEPWELL REALTY GROUP LTD
Powered by: REALTOR.ca
Call us 800-591-0566

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