329 RICHELIEU AVENUE, Ottawa, Ontario

$1,624,000

3,620 Square Feet

Perfect turn-key investment opportunity in a prime location just minutes from downtown Ottawa and the University of Ottawa! This fully rented, well-maintained corner property features seven bright and spacious units: 4 two-bedrooms, 2 one-bedrooms, and 1 bachelor making it an ideal addition to any investor's portfolio. The building is in excellent condition with high-quality tenants and strong rental income. Units 1 and 2 were fully renovated in April 2024, while Units 3 and 6 were updated within the past few years. The remaining units are also in very good condition. Common areas include coin-operated laundry and a rear patio for tenant enjoyment. Major upgrades include a high-efficiency gas hot water boiler furnace (2018) and main sewer line replacement (2021) from the basement to the city connection. Walking distance to transit, shopping, restaurants, and everything this vibrant community has to offer, this property is a smart and reliable investment. Gross Income $116,686 and NOI of $80,862. NOI includes the cost to manage the property. (id:56241)

Listing ID: X12070226
Property Type: Multi-family

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Details

Transaction: For sale
Zoning Description: R4UA

Building

Appliances: All
Fireplace Present: False
Heating: Hot water radiator heat
Heating Fuel: Natural gas
Size Interior: 3620 sqft
Type: Multi-Family
Utility Water: Municipal water

Land

Acreage: true
Size Irregular: 42.45
Size Total: 42.45 ac

Listing provided by RE/MAX HALLMARK SAM MOUSSA REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 329 RICHELIEU AVENUE in Ottawa Ontario. It was last modified on April 8th, 2025. Contact us to schedule a viewing or to discover other Ottawa real estate for sale.

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