340 LACASSE AVENUE
Ottawa, Ontario K1L7A9

$1,499,900

ID# 1370870
Superb opportunity awaits the savvy investor searching for a renovated building with potential for stronger cashflow (present return 5.94% cap). It has been extensively renovated and offers tenants a high level of security. Over 500K invested: new 2 storey front + rear covered balcony structures, bldg 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, garage renos +. Quality 6 unit building w 5 x 100% 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 to tenant storage lockers). One of the six one bedroom units has yet to be refreshed @ 25K would increase return of +$10,680/yr + higher Net Income approx $99,801.00/yr with projected CAP rate 6.65% (buyer to verify). Easy to own & manage bldg! (id:25961)

James Dean

Sales Representative

Office: 613-725-1171

Direct: 613-293-2088


Toll Free: 1-800-307-1545


James@JamesDean.ca

Courtesy of ENGEL & VOLKERS OTTAWA CENTRAL

Listed on: December 04, 2023

On market: 150 days
Year Built 1955
Cooling Type Heat Pump
Heating Type Hot water radiator heat
Heating Fuel Natural gas
Stories Total 2

James Dean

Sales Representative

Royal LePage Team Realty

1335 Carling Avenue

Ottawa, Ontario

K1Z 8N8



Office: 613-725-1171

Direct: 613-293-2088

Fax: 613-725-3323



Toll Free: 1-800-307-1545


James@JamesDean.ca