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$ 3,565,000
Est. payment | /mo
1 SqFt
$ 3,565,000
Est. payment | /mo
1 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 1 sqft
Price per Sqft $3,565,000
Subdivision 8204 - Richmond
MLS Listing ID X11228242
Building Age 51-99
Annual Tax Amount $21,874
Tax Year 2023
Property Sub-Type Investment
Property Description
Welcome to Richmond, the fast developing rural suburb of Ottawa in the heart of the Greenbelt. This is an incredible opportunity to invest in the residential rental property in the heart of Richmond at a a fair price. This property consists of 16 x one bedroom apartments of various sizes, average rent is $1,182/month, meaning there is significant upside potential. The owner has been renovating units as they become available, however there are a number that still need upgrading. The building is built on a slab so all units are direct walk-in and could easily be converted to a seniors residence. Unit sizes vary from 500sq ft to close to 800sq ft which provide potential to add a second bedroom and higher rents. The owner has also installed coin op washer and dryers plus a reverse osmosis water system that sells bottled water for additional income. Another feature is that the property enjoys a residential tax rate that is far lower than comparable properties. Units are electric heat and tenants pay their own electric bills and . In considering this property, buyers should be aware that the property is slightly larger than an acre and given it's corner location on the main street of Richmond, it could provide the cornerstone of a land assembly. Property has been owner managed for 27yrs and all maintenance issues are dealt with promptly. **EXTRAS** All offers must include the completed Schedule B attachment
Location
State ON
County Ottawa
Community 8204 - Richmond
Area Ottawa
Interior
Cooling No
Exterior
Community Features Greenbelt/Conservation, Recreation/Community Centre
Utilities Available Yes
Lot Frontage 150.67
Lot Depth 248.75
Others
Security Features No
Listed by RE/MAX HALLMARK SAM MOUSSA REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
sepehr@yourottawarealestate.com
2148 Carling Ave suite 5& 6, Ottawa, ON, K2A 1H1, CAN