340 Lacasse Avenue, Vanier in Ottawa, ON
This is a Multi-family Listing.
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340 Lacasse Avenue, Vanier in Ottawa
Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow (present return 5.94% cap). It has been extensively renovated and offers tenants a high level of security. 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 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage to tenant storage lockers). One of the six one bedroom units has yet to be refreshed @ 25K would increase return of +$10,680/yr + higher Net Income approx $99,801.00/yr with projected CAP rate 6.65% (buyer to verify). Easy to own & manage bldg! (id:6289)
$1,499,900
340 Lacasse Avenue, Ottawa, Ontario
Essential Information
- MLS® #1370870
- Price$1,499,900
- Bathrooms0.00
- Acres0.10
- Year Built1955
- TypeMulti-family
- Sub-TypeFreehold
- Days on Website146
Amenities
- Parking Spaces3
Exterior
- ExteriorBrick
- FoundationPoured Concrete
Community Information
- Address340 Lacasse Avenue
- SubdivisionVanier
- CityOttawa
- Postal CodeK1L7A9
Interior
- HeatingNatural gas Hot water radiator heat
- CoolingHeat Pump
- # of Stories2
Listing Details
- Listing OfficeENGEL & VOLKERS OTTAWA CENTRAL