Exceptional income producing property with strong cash flow and significant future redevelopment potential. Situated on a large 153 ft. x 67 ft. corner lot with access from two sides, this fully tenanted property is ideally located along St. Laurent Boulevard and offers a rare combination of immediate income and long term upside. The property features 10 bedrooms and 3.5 bathrooms and generates approximately $91,872 in annual rental income, with a reported Net Operating Income of approximately $62,900 per year. Located in a high demand rental area close to CHEO, the Ottawa General Hospital, transit, shopping and everyday amenities, the property offers flexibility for investors looking to continue operating it as a strong cash flowing rental while exploring future redevelopment opportunities. The anticipated new zoning is CM2, which is expected to permit higher density development with building heights of up to approximately 20 metres. Whether your strategy is to hold for income, reposition the property, or plan for future redevelopment, this is a compelling opportunity in a well located and evolving area of Ottawa. Buyers are advised to independently verify zoning, permitted uses, development potential and all financial information (id:2493)
Property Type:
Single Family
Common Interest:
Freehold
Property Attached:
No
Living Area (Min):
1,100 sq. ft.102 m2
Living Area (Max):
1,500 sq. ft.139 m2
Zoning:
CM2[2208] H(20) - Minor Corridor Zone 2
Taxes:
$5,057.75 /
-
Community:
3704 - Hawthorne Meadows
Exterior Features:
Brick, Vinyl siding
Community Features:
Community Centre
Security Features:
Smoke Detectors, Monitored Alarm
Structure Type:
House
Appliances Included:
Refrigerator, Water Heater - Tankless, Water Heater
Home Style:
Bungalow
Bedrooms:
10
Bedrooms Above Grade:
10
Bathrooms:
4.0
Cooling:
Central air conditioning
Fireplace:
Yes
Foundation:
Concrete
Heating:
Forced air, Natural gas
# Storeys:
1.0
Water:
Municipal water
Sewer:
Sanitary sewer
Basement:
Finished, Full, Apartment in basement, Separate entrance, N/A
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