16
Bathrooms
8,636 sqft
Living Area
8,635.89 ac
Lot
About This Property
This 16-bathroom multi-family in Ottawa offers 8,636 sqft of living area on a 8,635.89 ac lot. The property has lot dimensions of 8635.89. The home features baseboard heaters, radiator heating, fully air conditioned.
MLS Remarks
Welcome to 360 Friel Street an exceptional turnkey investment opportunity featuring 16 residential units with separate hydro meters, comprised of 9 fully renovated and refurbished units, 7 newly constructed additional units (recently completed). Unit Breakdown: 1 Three-Bedroom Unit, 3 Two-Bedroom Units, 2 One-Bedroom Units, 10 Studio Units. All units are fully furnished and separately metered, offering operational efficiency, reduced utility risk, and strong tenant appeal. The seller is willing to lease all units, providing investors with a stabilized, income-producing asset from day one. Income Overview Projected Residential Rental Income: $402,420.00, Parking Income: $1,800.00, Laundry Income: $3,780.00, Total Projected Gross Income:$408,000.00, Annually Projected 2026 Operating Expenses Vacancy (2%) - $8,084.00, Property Taxes (5.42%) - $21,484.00, Utilities (5.82%) - $23,064.00 (Heat, Water, Hydro) Repairs & Maintenance (4%) - $15,845.00, Property Management (3.96%) - $15,687.00, Property Insurance (6.85%) - $27,125.00Advertising (0.5%) - $1,981.00, Total Projected Operating Expenses: $113,270.00. Financial Summary - Gross Income: $408,000.00, Less Operating Expenses: $113,270.00, Estimated Net Operating Income (NOI): $294,690.00 annually. This newly completed, fully furnished multi-unit property presents a rare opportunity to acquire a modern, income-generating asset with strong projected returns and long-term growth potential. (id:60351)
Inclusions
All units are fully furnished. All furniture as seen upon viewing shall remain with the property, with the exception of tenants' personal belongings.The property includes:* 16 refrigerators* 16 stoves* Dishwashers* 1 Coin-A-Matic washer and 1 Coin-A-Matic dryer
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