Michael Tzakas
Sales Representative
RE/MAX Hallmark Realty Ltd, Brokerage
Independently owned and operated.
685 Sheppard Ave East, Richmond Hill, Ontario M2K 1B6
Cell: 416-561-3911Office: 416-494-7653
$1,150,000
Available - For Sale
Listing ID: X13773468
438 Lewis Street , Ottawa Centre, K2P 0T3, Ottawa
| Turnkey five-unit apartment building in Centretown offering immediate income and longer-term development potential. Over 300k in capital improvements over the last 10 years.The property is fully occupied and consists of three one-bedroom apartments and two bachelor units, with annual gross income of just over $79,000. The property may qualify for attractive CMHC MLI Select financing. Tenants pay their own hydro, while the landlord pays for heat and water. Additional income may be available from the on-site parking. The property sits on a 33' 99' lot and may be assembled with adjoining properties to create a development site of approximately 13,000 square feet. This property has a Walk Score of 100/100! Ideally located within walking distance of downtown, public transit, restaurants, shops and other amenities. A strong opportunity to acquire a stabilized income property with financing, rental and redevelopment upside. Contact the listing agent for further details regarding the potential land assembly, the rent roll & operating expenses. |
| Price | $1,150,000 |
| Taxes: | $9438.55 |
| Tax Type: | Annual |
| Assessment Year: | 2026 |
| Occupancy: | Tenant |
| Address: | 438 Lewis Street , Ottawa Centre, K2P 0T3, Ottawa |
| Postal Code: | K2P 0T3 |
| Province/State: | Ottawa |
| Legal Description: | PT LT 8, PL 12 , PART 1 & 2 , 4R9548 , S |
| Directions/Cross Streets: | Lewis St & O'Connor |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 2500.00 |
| Total Area Code: | Square Feet |
| Financial Statement: | F |
| Franchise: | F |
| Management Expense: | 3177 |
| Water Expense: | $1826 |
| Expenses Actual/Estimated: | $Est |
| Washrooms: | 5 |
| Heat Type: | Baseboard |
| Central Air Conditioning: | No |
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| SUTTON GROUP - OTTAWA REALTY |
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|
Michael Tzakas
Sales Representative
Dir:
416-561-3911
Bus:
416-494-7653
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4103 - Ottawa Centre |
| Tax: | $9,438.55 |
| Baths: | 5 |
| Fireplace: | N |
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