340 LACASSE AVENUE, Ottawa, Ontario
$1,495,000
- 6 Beds
- 6 Baths
LOOK AT THESE NUMBERS: NET INCOME $92,583.00!!! Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cash flow (present return 6.193% cap with GOI $115,392.00 and NOI $92,583.00/increases to $95,919.00 as of Oct 1st when Unit #1 turns over). 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 (30K 2024), 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 $950 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 +$13,272.00 per year with a higher Net Income of approx $109,191.00/yr. This has a projected CAP rate 7.3% (buyer to verify). Easy to own & manage bldg! Min 24 hours notice for all showings please. (id:56241)
- Listing ID: X12313262
- Property Type: Multi-family
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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 340 LACASSE AVENUE in Ottawa Ontario. It was last modified on July 29th, 2025. Contact us to schedule a viewing or to discover other Ottawa real estate for sale.