property-description
Incredible cashflow opportunity in Manordale (Nepean) near Algonquin College! Fully tenanted at $6,000 monthly income and a 6.5% CAP RATE. Fully renovated and SDU added in 2020. 8 Bedrooms and 4 Full Bathrooms split between 2 LEGAL separate dwelling units in a sprawling bungalow. Exceeds 2400sqft as per MPAC. Gross income $6,000 monthly or $72,000 annually. Incredibly efficient boiler heating and low taxes result in expenses adding up to only ~$13,610. NET OPERATING INCOME $58,390. Monthly CASH FLOW approx. $1,000 even at current interest rates! Prove your investment acumen and show other investors that you CAN cashflow a renovated Ottawa property $1,000/month at current rates. If rates go down to 3% cashflow becomes $2,000+. With growing rental income you could cashflow over $1 million during a 30-year ownership. At only 4% value growth per year, resale could be approx. $2.92 million. Attached garage holds opportunity for additional income. Sold furnished. (id:38686)
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detailsSection.headers.propertyDetails
Property Tax
: $4,083 (2023)Last Updated
: Fri, May 3, 2024Mls Num
: 1387634Listing Date
: Apr 22, 2024
detailsSection.headers.homeFeatures
Property Type
: detailsSection.listingTypeId.100
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Partial Bathrooms
: 0
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Heating
: Hot water radiator heat, Radiant heat, Natural gasBasement
: Finished, FullFlooring
: Ceramic, Vinyl
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Sewer
: Municipal sewage system
detailsSection.headers.other
Parking Features
: Attached Garage, SurfacedExterior Features
: Stone, Siding
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