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250 Russell Avenue, Ottawa, Ontario, K1N 7X5

MLS® # 1259152

For sale in ottawa, Ontario
$1,349,900
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None Hot Water Radiator Heat

Calling all investors, contractors or anyone looking for a fall/winter project...opportunity knocks in desirable Sandy Hill! This solid concrete block building sits on an extra deep 148-foot lot with possibility to build or develop the back of the property. Proper parking lot lines could be added to the back of the property to collect additional parking fees, or its easily turned into a family backyard. Currently used as student rentals with a total of 13 rooms, this property is technically a triplex with a non-conforming 4th unit. Unit 1 is 4 bedrms. Units 2, 3 & 4 are all 3 bedrms. Two tenants are month-month, one Tenant is on a new 1-year lease, and one Tenant is on a new 8-month lease (the other rooms are vacant). If the property was fully occupied the estimated annual income would be $103,020 with estimated expenses of $25,715, estimated NOI of $77,305 (estimated cap rate of 5.5%). Updates include roof 2020, all windows 2021. 24 hours' notice for showings on Tenant occupied units. (id:37464)

Property Details

MLS® Number 1259152
Property Type Multi-family
Neigbourhood Sandy Hill
Parking Space Total 6

Building

Basement Development Finished
Basement Type Full (finished)
Constructed Date 1920
Construction Style Attachment Attached
Cooling Type None
Fireplace Present No
Flooring Type Carpeted, Tile, Vinyl
Heating Fuel Natural Gas
Heating Type Hot Water Radiator Heat
Stories Total 3
Type Triplex
Utility Water Municipal Water

Parking

Surfaced

Land

Acreage No
Current Use Development Residential
Sewer Municipal Sewage System
Size Depth 148 Ft
Size Frontage 33 Ft
Size Irregular 33.01 Ft X 148 Ft
Size Total Text 33.01 Ft X 148 Ft
Zoning Description R4ub

https://www.realtor.ca/real-estate/23603073/250-russell-avenue-ottawa-sandy-hill

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