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$ 1,624,000
Est. payment /mo
Price Dropped by $75K
329 RICHELIEU AVENUE Ottawa, ON K1L6J7
3,620 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,620 sqft
Price per Sqft $448
Subdivision 3404 - Vanier
MLS® Listing ID X12070226
Lot Size 42.450 Acres
Acres 42.45
Source Ottawa Real Estate Board
Property Description
Perfect turn-key investment opportunity in a prime location just minutes from downtown Ottawa and the University of Ottawa! This fully rented, well-maintained corner property features seven bright and spacious units: 4 two-bedrooms, 2 one-bedrooms, and 1 bachelor making it an ideal addition to any investor's portfolio. The building is in excellent condition with high-quality tenants and strong rental income. Units 1 and 2 were fully renovated in April 2024, while Units 3 and 6 were updated within the past few years. The remaining units are also in very good condition. Common areas include coin-operated laundry and a rear patio for tenant enjoyment. Major upgrades include a high-efficiency gas hot water boiler furnace (2018) and main sewer line replacement (2021) from the basement to the city connection. Walking distance to transit, shopping, restaurants, and everything this vibrant community has to offer, this property is a smart and reliable investment. Gross Income $116,686 and NOI of $80,862. NOI includes the cost to manage the property. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by RE/MAX HALLMARK SAM MOUSSA REALTY