250 RUSSELL AVE, Ottawa, Ontario K1N 7X5

For Sale

$1,349,900 CAD
$1,349,900 CAD
  • 9 Beds
  • 3 Baths
  • Residential
Open House
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Property Summary for 250 RUSSELL AVE

Type
Residential
Style
Triplex
MLS® Number
1259152
Year Built
1920
Lot info
33.01ft x 148.00ft
Taxes
9,574 CAD (2021)
Neighborhood
Sandy Hill
Postal Code
K1N 7X5

Description for 250 RUSSELL AVE

Calling all investors, contractors or anyone looking for a fall/winter project...opportunity knocks in desirable Sandy Hill! This solid concrete block building sits on an extra deep 148-foot lot with possibility to build or develop the back of the property. Proper parking lot lines could be added to the back of the property to collect additional parking fees, or its easily turned into a family backyard. Currently used as student rentals with a total of 13 rooms, this property is technically a triplex with a non-conforming 4th unit. Unit 1 is 4 bedrms. Units 2, 3 & 4 are all 3 bedrms. Two tenants are month-month, one Tenant is on a new 1-year lease, and one Tenant is on a new 8-month lease (the other rooms are vacant). If the property was fully occupied the estimated annual income would be $103,020 with estimated expenses of $25,715, estimated NOI of $77,305 (estimated cap rate of 5.5%). Updates include roof 2020, all windows 2021. 24 hours' notice for showings on Tenant occupied units.\r
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Listing provided by Point2 Agent

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