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$ 2,100,000
Est. payment /mo
New
64 DELAWARE AVENUE Ottawa, ON K2P0Z3
3,453 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3453
Square Footage 3,453 sqft
Price per Sqft $608
Subdivision 4104 - Ottawa Centre/Golden Triangle
MLS® Listing ID X13869724
Property Description
PROJECTED 5.37% CAP RATE AT $2,100,000. 64 Delaware Avenue: fully furnished, restored 5-plex in Ottawa's sought-after Golden Triangle. Projected annual gross income of $143,100 and NOI of $112,807, based on the following pro forma: 1 x two-bedroom suite at $2,700/month, 4 x one-bedroom suites at $2,150/month, plus $7,500/year from 5 parking spaces. Apartment rents total $11,300/month or $135,600/year. Deducting 3% vacancy/collection loss ($4,293), property taxes ($16,000), insurance ($5,000) and general maintenance ($5,000) yields the projected NOI above. Currently vacant, offering the opportunity to establish new tenancies at market-supported rents. Extensive updates, furnished suites and preserved architectural character complement this central location near the Rideau Canal, Elgin Street, shops and restaurants. Income figures are projections, not an existing rent roll. Cap rate is before financing; additional owner-paid utilities, management and replacement reserves are excluded. Buyers to verify achievable rents and complete operating costs. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Radiant heat, Radiator
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 7
Garage No
Private Pool No
Others
Virtual Tour https://www.64delaware.com/
Listed by ROYAL LEPAGE TEAM REALTY
NEARBY SCHOOLS & PROPERTIES