11-1,2,3; 13-1,2,3 - 11 & 13 ACACIA AVENUE

3302 - Lindenlea Ottawa K1M 0P3

Cap Rate = 5.3%. Fully renovated 6-plex apartment building on storied Acacia Ave at the entrance to Rockliffe Park. New bathrooms and kitchens w quartz countertops, new flooring, fridges, dishwashers, washer-dryers, microwaves and hot water tanks in all units in winter of 2021. New wiring and plumbing throughout. Building fully occupied with young professionals. Average lease length of 2 years, creating ample opportunity to increase rents to market value without additional capital improvements. Annual gross income of $143k. NOI of $121k. Electric heat, separate meters for each unit, tenants pay hydro. Two 1 bedroom garden-level walkout units with their own green space. Two 1 bedroom 1st floor units with private, west facing decks. Two 1 bedroom and den 2nd story units with private, east facing decks. Units rent from $1,800/ month to $2,200/month. Parking for 6 cars in adjacent lot. Rent roll for all 6 units available. Finacial statements prepared by accounting firm available, recent survey available. Safe, popular, leafy neighbourhood with many attractive amenties within short walking distance, including Metro, LCBO, Starbucks, Bridgehead, Pet Value, restaurants and specialty shops. Bike and jogging paths, and winding, secluded streets of Rockliffe Park only a stones throw away. Great location and excellent investment opportunity. (id:2493)