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$ 18,950,000
Est. payment | /mo
9,698 SqFt
$ 18,950,000
Est. payment | /mo
9,698 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,698 sqft
Price per Sqft $1,954
Subdivision 4004 - Sandy Hill
MLS® Listing ID X12543018
Source Ottawa Real Estate Board
Property Description
A rare opportunity to acquire a purpose-built 40-unit building in the heart of Sandy Hill, within downtown Ottawa, delivering an impressive NOI of $715,980 and a major built-in value-add. Included with the offering is an approved, permit-ready addition directly beside the existing building, allowing for the development of 18 additional units, a future expansion opportunity exceptionally hard to find in today's market. All suites have been fully renovated since 2020, and along with the modernized finishes, unit layouts were thoughtfully optimized to improve livability and long-term rental performance. Previous ownership also completed substantial infrastructure upgrades, including hydro vault (2006), elevator rebuild to new (2010), roof (2012), lobby doors (2012), dual boilers (2014), and balcony updates (2015). These capital improvements significantly reduce near-term maintenance exposure while supporting premium furnished rents. The building offers a desirable mix of studio, one-bedroom, and two-bedroom suites, all fully furnished and with utilities included, attracting a strong and dependable tenant base of young professionals and students. Located along Laurier Avenue, the property benefits from unmatched proximity to downtown amenities, Ottawa University, government offices, and major transit corridors, making these units consistently easy to lease. This is a high-performing, centrally located multi-residential asset with a dynamic tenant pool, fully updated interiors, substantial capital improvements, and a shovel-ready expansion opportunity. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
Others
Virtual Tour https://my.matterport.com/show/?m=P8fPV24vnqp&mls=1
Listed by SLEEPWELL REALTY GROUP LTD
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Franco Maione
Real Broker