340 Lacasse Avenue Ottawa, Ontario K1L 7A9
$1,550,000
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 (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 $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! Min 24 hours notice for all showings please. (id:59524)
Property Details
| MLS® Number | X12036179 |
| Property Type | Multi-family |
| Neigbourhood | Vanier |
| Community Name | 3404 - Vanier |
| ParkingSpaceTotal | 3 |
Building
| BathroomTotal | 6 |
| BedroomsAboveGround | 4 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 6 |
| Appliances | Water Heater, All |
| BasementDevelopment | Partially Finished |
| BasementFeatures | Apartment In Basement |
| BasementType | N/a (partially Finished) |
| CoolingType | Wall Unit |
| ExteriorFinish | Brick |
| FoundationType | Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Radiant Heat |
| StoriesTotal | 2 |
| SizeInterior | 2000 - 2500 Sqft |
| Type | Other |
| UtilityWater | Municipal Water |
Parking
| Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 86 Ft |
| SizeFrontage | 52 Ft ,3 In |
| SizeIrregular | 52.3 X 86 Ft |
| SizeTotalText | 52.3 X 86 Ft |
| ZoningDescription | R4ud |
https://www.realtor.ca/real-estate/28061974/340-lacasse-avenue-ottawa-3404-vanier
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May 23 2025 03:03:24
Engel & Volkers Ottawa