35, 35a And 37 Cloverloft Court Ottawa, Ontario K2S 1T3

$1,920,000

This property, known as Creekside Lofts, is adjacent to Poole Creek and consists of 3 parcels: 35 and 37 Cloverloft Court are legal duplexes rented out for medium term rentals (30 days or longer up to 180 days). 35A Cloverloft Court is a vacant lot to be developed for up to 4 additional units. This listing is being sold as a package to a developer, investor or a sitting owner who wants to live in one unit and rent out the others. Alternatively, the property would be ideal for a multi-generational family compound or co-operative housing. Each furnished unit consists of three bedrooms and two baths. They typically rent for $3,500 per month per unit. Total potential revenue from two existing duplexes are $14,000 monthly ($168,000/year gross) plus additional revenue from the development potential of the currently vacant lot (with up to four more units). The lots are exceptionally deep and all are pie-shaped, Depths ranges are from 145.7 to 164.4 feet. Zoning is R1D[2240]: Primarily single-detached dwelling plus the addition of a secondary dwelling units. As of 2025-2026, many R1 zones are transitioning to new "N-series" (Neighbourhood) zones that allow up to 4 units per lot. Subject properties are close to services and jobs, 7-mins from the Canadian Tire Centre and there is a natural area behind the properties bordering Poole Creek which provides noise reduction, privacy and beauty. High Ranch construction means lower level units are only 1/2 level down, have 8-foot ceiling heights and have large windows, good daylighting. Each unit is about 1,350 square feet, all with separate ingress/egress. Existing interim income from the two developed lots increases a buyer's ROI/IRR (return on investment/internal rate of return). Lastly, a buyer could legally add some 15 sq m (161.5 sq ft) backyard or sideyard workshops or mancaves or she-sheds or backyard offices to further boost both utility, tenant stickiness and ROI/IRR. There are three PINs and three legal descriptions. (id:59524)

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https://www.realtor.ca/real-estate/29388105/35-35a-and-37-cloverloft-court-ottawa-8201-fringewood