253-259 YORK Street, Ottawa, Ontario K1N5T9

Listing courtesy of SLEEPWELL REALTY GROUP LTD.

$17,950,000
List Price
$17,950,000
MLS®
1391163
Days on Market
66
Status
ACTIVE
Type
Multifamily
Subtype
Multi-family
Lot Size Dimensions
132.06 ft X * ft (Irregular Lot)
Subdivision
Lower Town

Property Description

Discover opportunity with this 38-unit (37-res, 1-comm) portfolio that offers tremendous upside: 16-unit development ready with site plan and zoning approval, 14 vacant suites ready for renovation and further units turning over Sep’24. Projected NOI $831,303 with significant room to grow with future development. Drive increased revenue through immediate renovations to 14 strategically vacant units ready for your vision. An additional 14 units are slated for turnover in September 2024 which. Necessary approvals obtained, you are ready to add 16 units, including 2 two bedroom and 14 studio suites. With a diverse unit mix, high demand location, and clear pathways for value enhancement, this portfolio promises stable cash flow and substantial returns. The complete vision of York and Nelson is yours to create. Development documents available upon request. All units have individual hydro meters. Financials and full building tour available upon conditional sale. (id:5764)

Additional Information

Ownership
Freehold
Subdivision
Lower Town
Parking Spaces
8
Cooling
Unknown
Country
Canada
Sewer
Municipal sewage system
Heating
Hot water radiator heat, Radiant heat, Natural gas
Total Number Of Units
38
Stories
3

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks