340 Lacasse Avenue For Sale

Ottawa, Vanier, K1L 7A9

$1,550,000

Description

Listed by ENGEL & VOLKERS OTTAWA.

LOOK AT THESE NUMBERS! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 5.86% cap with GOI $113,892.00 and NOI $90,783.00). It has been extensively renovated, boasting a high level of security and very stable tenants. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg 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, garage renos +. Quality 6 unit building w 5 x 100% updated suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure that generates $850 in rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed at a cost of approx 25K which would increase return of +$12,948.00 per year with a higher Net Income of approx $103,731/yr. This has a projected CAP rate 6.7% (buyer to verify). Easy to own & manage bldg!

All apliances

Location

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  • Address: 340 Lacasse Avenue
  • Neighborhood: Vanier
  • City: Ottawa
  • State: Ontario
  • Postal Code: K1L 7A9

Property Video

Property Details

  • Property ID: X12036179
  • Property Price: $1,550,000
  • Style: Multiplex, 2-Storey
  • Sq/Ft: 2000-2500
  • Rooms: 16+7
  • Bedrooms: 4+2
  • Bath: 6
  • Parking Spaces: 3
  • A/C: Wall Unit
  • Basement: Apartment, Part Fin
  • Central Vac.: N
  • Den: N
  • Exterior: Brick
  • Heating: Radiant
  • Fireplace: N
  • Taxes: $5,579.30 (2024)
  • Lot: 86x52.3 (Feet)

Contact Manoj Kukreja

Sales Representative, Century 21 People’s Choice Realty Inc., Brokerage
(647) 576 - 2100