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:4069)
Address
64 DELAWARE AVENUE
List Price
$2,100,000
Property Type
Business
Transaction Type
Sale
Area
Ontario
Sub-Area
Ottawa
Floor Area
3,453 Sq. Ft.
Lot Size
Bldg=44 x 90 FT Sq. Ft.
Lot Depth
90 ft
Frontage Length
44 ft
MLS® Number
X13869724
Listing Brokerage
ROYAL LEPAGE TEAM REALTY
Postal Code
K2P0Z3
Zoning
R4V
Parking Places (Total)
7
Appliances
Furniture
Heat Type
Radiant heat, Radiator
Cooling Features
None
Water Source
Municipal water
