340 Lacasse Avenue Ottawa, Ontario K1L 7A9

Heat Pump Radiant Heat


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:19849)

Property Details

MLS® Number 1394838
Property Type Multi-family
Neigbourhood Vanier
Parking Space Total 3


Constructed Date 1955
Cooling Type Heat Pump
Exterior Finish Brick
Fire Protection Security
Foundation Type Poured Concrete
Heating Fuel Natural Gas
Heating Type Radiant Heat
Stories Total 3
Utility Water Municipal Water


Acreage No
Sewer Municipal Sewage System
Size Depth 86 Ft
Size Frontage 52 Ft ,4 In
Size Irregular 52.3 Ft X 86 Ft
Size Total Text 52.3 Ft X 86 Ft
Zoning Description R4ud



Contact us for more information

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Jacen Matthews

(613) 296-8582

Engel & Volkers Ottawa
787 Bank St Unit 2nd Floor
Ottawa, Ontario K1S 3V5

(613) 422-8688
(613) 422-6200

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