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KELLER WILLIAMS INTEGRITY REALTY, BROKERAGE

Sepehr Safaee YourOttawaRealEstate.com
REALTOR®
Office Phone: (613) 829-1818
Direct: (613) 769-9302
www.yourottawarealestate.com

KELLER WILLIAMS INTEGRITY REALTY, BROKERAGE
Pic_of_house
Status:
For Sale
Property Price:
$1,825,000
Property Type:
Multi-Family
Age:
1920
Heating:
Hot water radiator heat
Front Footage:
79
Exterior:
Stone,
Park spaces:
12
Water:
Municipal water

level

Remarks:

Fourteen-unit income property includes 3 commercial retail units plus 11 residential apartments. An incredible opportunity for a value-add investor that appreciates underperforming assets and knows how to make the necessary renovations and cycle out tenants to raise rents to a market value. The successful sophisticated investor will actualize the embedded equity to increase the value of the property by more than $2,500,000. Projected value of $4,400,000 once the building performance is improved to market rates. Residential rents are currently 50% below market value and commercial rents are 30% below market value. A fully occupied building in the downtown core of Perth, Ontario. All units are separately metered for hydro. Commercial tenants also pay for heat and water. Includes 12 parking spaces. No on-site laundry. Two tankless water boilers were installed 3 and 7 years ago. Two hot water tanks service the building & are less than five years old. (id:5706)

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Sepehr Safaee  YourOttawaRealEstate.com, REALTOR®

KELLER WILLIAMS INTEGRITY REALTY, BROKERAGE

Sepehr Safaee YourOttawaRealEstate.com
REALTOR®
Office Phone: (613) 829-1818
Direct: (613) 769-9302
www.yourottawarealestate.com

KELLER WILLIAMS INTEGRITY REALTY, BROKERAGE
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