Commercial listings / Investment / For sale
438 Lewis Street, Ottawa Centre, ON K2P 0T3
$1,150,000
- Property type
- Investment
- Transaction
- For sale
- Location
- Ottawa Centre, Ottawa
- Building area
- 2,500 Square Feet
- MLS® number
- X13773468
Description
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.
Listing brokerage: SUTTON GROUP - OTTAWA REALTY
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