Mirna Botros
613-600-2626218 220 Mcarthur Avenue - $1,600,000
218 220 Mcarthur Avenue - $1,600,000
218 220 Mcarthur Avenue
$1,600,000
3404 - Vanier
Ottawa, OntarioK1L6P5
2 beds
4 baths
5 parking
MLS#: X12671512Listed: 8 days agoUpdated:8 days ago
Description
ATTENTION BUILDERS & INVESTORS - SHOVEL READY 9 UNIT DEVELOPMENT Vanier, Ottawa. 220 McArthur Avenue represents a rare opportunity to acquire a fully entitled, shovel ready development site in one of Ottawa's fastest intensifying urban corridors. Ideally positioned steps from Vanier Parkway and McArthur Avenue, the site benefits from excellent transit connectivity, proximity to downtown, and strong longterm rental fundamentals. The property is offered at $1.6M as land with approvals, featuring a demolition permit issued and fully approved architectural plans for a 9 unit residential building. All utilities have been fully disconnected, allowing for an immediate and efficient start to redevelopment. Estimated Project Economics (Upon Completion) Approximate Gross Monthly Rental Income: $20,600, Approximate Gross Annual Rental Income: $247,200, Estimated Stabilized Net Operating Income (NOI): ~$181,764 Capitalization Rate Applied: 5.50% Estimated Stabilized Value: ~$3.3M. A future value appraisal has been completed by an AACI designated appraiser, with valuation conclusions based on the above stabilized income assumptions, subject to construction in accordance with the approved plans. Preliminary construction cost guidance suggests approximately $1.8M, subject to final contractor pricing, scope confirmation, and purchaser due diligence. To obtain the final release of approved plans from the City, a known and fully disclosed municipal payment of approximately $95,000 remains outstanding.The project is eligible for CMHC MLI Select financing, offering the potential for below prime interest rates and amortization periods of up to 50 years, significantly enhancing leverage, cash flow, and long term return potential, subject to CMHC and lender approval. NDA required prior to the release of architectural drawings, appraisal materials, supporting documentation, or the scheduling of site visits (id:58075)Details
Details for 218 220 Mcarthur Avenue, Ottawa, Ontario- Property Type
- Multi Family
- Building Type
- Fourplex
- Storeys
- 2
- Neighborhood
- 3404 - Vanier
- Land Size
- 44 x 96 FT
- Year Built
- -
- Annual Property Taxes
- $3,743
- Parking Type
- No Garage
Inside
- Appliances
- -
- Rooms
- 14
- Bedrooms
- 2
- Bathrooms
- 4
- Fireplace
- -
- Fireplace Total
- -
- Basement
- Crawl space
Building
- Architecture Style
- -
- Direction
- Cross Streets: Vanier Pkwy and McArthur Ave. ** Directions: Vanier parkway north, turn right on McArthur, 2 blocks east on McArthur.
- Type of Dwelling
- fourplex
- Roof
- -
- Exterior
- Vinyl siding
- Foundation
- Concrete
- Flooring
- -
Land
- Sewer
- Sanitary sewer
- Lot Size
- 44 x 96 FT
- Zoning
- -
- Zoning Description
- -
Parking
- Features
- No Garage
- Total Parking
- 5
Utilities
- Cooling
- Central air conditioning
- Heating
- Heat Pump, Forced air, Not known, Not known, Electric, Electric, Natural gas
- Water
- Municipal water
Feature Highlights
- Community
- -
- Lot Features
- -
- Security
- -
- Pool
- -
- Waterfront
- -
Rooms
Rooms for 218 220 Mcarthur Avenue, Ottawa, OntarioMap
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