Mirna Botros

613-600-2626

70 Russell Avenue - $2,600,000

70 Russell Avenue

$2,600,000

4004 - Sandy Hill

Ottawa, OntarioK1N7X1

21 beds

8 baths

1 parking

MLS#: X14147822Listed: about 3 hours agoUpdated:about 3 hours ago

Description

70 Russell Avenue | Built in 2018, this purpose-built four-unit residential investment property generates $224,625 in annual gross rental income with a NOI of $154,775.77. Located in Ottawa's Sandy Hill neighbourhood, the property offers four fully leased apartments: Unit 1: 5 bed, $4,500/month; Unit 2: 5 bed, $4,152/month; Unit 3: 5 bed, $4,216.75/month; Unit 4: 6 bed, $5,850/month. All units are currently leased, with fixed terms extending into 2027. The reported NOI is supported by a comprehensive operating expense statement, including recurring property management, maintenance and operating costs. Each apartment is independently configured on its respective level, extending from the front to the rear of the building, and features two full bathrooms, contemporary kitchens, durable flooring, large windows and in-suite laundry. At an asking price reflecting approximately a 6% capitalization rate, this property presents an attractive opportunity to acquire a modern, established income-producing asset. Unlike many of Sandy Hill's older converted rental properties, 70 Russell was purpose-built in 2018 with modern construction, thoughtfully designed interiors and spacious, functional layouts suited for student accommodations. Ideally situated in the heart of Sandy Hill, 70 Russell Avenue is within walking distance of the University of Ottawa, downtown Ottawa, the ByWard Market, public transit, restaurants and everyday amenities. This prime location, combined with the area's strong student rental demand, makes the property a compelling long-term investment opportunity. (id:58075)

Details

Details for 70 Russell Avenue, Ottawa, Ontario

Property Type: Multi Family
Building Type: Fourplex
Storeys: 3
Neighborhood: 4004 - Sandy Hill
Land Size: 97.2 FT
Year Built: -
Annual Property Taxes: $18,865
Parking Type: No Garage

Inside

Appliances: Washer, Refrigerator, Gas stove(s), Dishwasher, Range, Dryer, Microwave
Rooms: -
Bedrooms: 21
Bathrooms: 8
Fireplace: -
Fireplace Total: -
Basement: Finished, Full, Apartment in basement, N/A, N/A

Building

Architecture Style: -
Direction: Cross Streets: Russell & Osgoode. ** Directions: From King Edward, East on Osgoode. Building at corner of Osgoode & Russell.
Type of Dwelling: fourplex
Roof: -
Exterior: Brick, Stucco
Foundation: Concrete
Flooring: -