203-205 Marier Avenue, Vanier and Kingsview Park, ON K1L 5R6

Description

Visit the REALTOR website for further information about this Listing. Seven rental units in two buildings near Beechwood Avenue in east-central Ottawa. The location offers access to Montfort Hospital, downtown, the University of Ottawa, ByWard Market, and Highway 417. The area is very popular with young professionals and students. 203 Marier is a fully rented triplex with three two-bedroom, one-bathroom units. It has five exterior storage lockers and coin-operated laundry in the basement. Updates include windows (2019), pavement and exterior cladding (2023), and the roof (2026). Two units are furnished. The boiler and hot water tanks are owned. 205 Marier is a fully rented fourplex with one two-bedroom, one-bathroom unit; one two-bedroom, two-bathroom unit; and two one-bedroom, one-bathroom units. Updates include windows and the roof (2019), and pavement and exterior cladding (2023). The furnace and hot water tank are rented from Enercare. Approximate annual gross income is $157,800. Projected net operating income is approximately $122,000, which represents a 5.5% cap rate at the asking price. The properties are offered as-is. Easy Street Services manages the properties and is willing to continue, subject to an agreement with the buyer. Reported CM1 zoning may potentially allow future development.