Royal LePage Performance Realty Ottawa: Current Listings

340 LACASSE AVENUE
Vanier Ottawa K1L 7A9

$1,568,000
Multi-family baths: 0.0 built: 1955

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Status:
Active
Prop. Type:
Multi-family
MLS® Num:
1370870
Year Built:
1955
Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow. It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balconies, security lighting, cameras, intercom, washrooms, kitchens, laundry added to 5 units, new electrical panels, wiring, unit lighting, appliances, flooring, paint, mailboxes, insulation, roof, secure doors, windows+. Quality 6 unit building w 5 completely updated 1 bedrm suites, one unit has a legacy tenant paying below market rent, plus a quality larger garage structure also generates rental income (potential to easily transform garage into tenant storage lockers). One of the six one bedroom units has yet to be refreshed. Approximate cost 25K with an increased annual return of +$10,680 per yr post refresh would bring the already strong cashflow up to $99,152.00 and increases CAP rate to approx 6.32% (buyer to verify all info). (id:2493)
Property Type:
Multi-family
Transaction Type:
For sale
Zoning:
R4UD
Ownership Type:
Freehold
Property Management Company:
SELFBMI -
Community:
Vanier
Bathrooms:
0.0
Half Bathrooms:
0
Age:
68 years
Cooling:
Heat Pump
Exterior Finish:
Brick
Fireplace:
No
Foundation:
Poured Concrete
Heating:
Hot water radiator heat
Heating Fuel:
Natural gas
# Storeys:
2.0
Water:
Municipal water
Sewer:
Municipal sewage system
Lot Frontage:
52'
Lot Depth:
86'
Acreage:
No
Lot Size:
52.3 ft X 86 ft
Lot Details:
52.3 ft X 86 ft
Total Parking Spaces:
3
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Listed by ROYAL LEPAGE PERFORMANCE REALTY
Data was last updated February 23, 2024 at 08:15 AM (UTC)
Area Statistics
Listings on market:
13
Avg list price:
$849,000
Min list price:
$595,000
Max list price:
$3,800,000
Avg days on market:
27
Min days on market:
1
Max days on market:
232
Avg price per sq.ft.:
$444.04
These statistics are generated based on the current listing's property type and located in Vanier. Average values are derived using median calculations.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.