DAVID OIKLE

BROKER

5931 PERTH STREET
Ottawa, Ontario K0A2Z0

$3,565,000

ID# X11228242
Welcome to Richmond, the fast developing rural suburb of Ottawa in the heart of the Greenbelt. This is an incredible opportunity to invest in the residential rental property in the heart of Richmond at a a fair price. This property consists of 16 x one bedroom apartments of various sizes, average rent is $1,182/month, meaning there is significant upside potential. The owner has been renovating units as they become available, however there are a number that still need upgrading. The building is built on a slab so all units are direct walk-in and could easily be converted to a seniors residence. Unit sizes vary from 500sq ft to close to 800sq ft which provide potential to add a second bedroom and higher rents. The owner has also installed coin op washer and dryers plus a reverse osmosis water system that sells bottled water for additional income. Another feature is that the property enjoys a residential tax rate that is far lower than comparable properties. Units are electric heat and tenants pay their own electric bills and . In considering this property, buyers should be aware that the property is slightly larger than an acre and given it's corner location on the main street of Richmond, it could provide the cornerstone of a land assembly. Property has been owner managed for 27yrs and all maintenance issues are dealt with promptly. **EXTRAS** All offers must include the completed Schedule B attachment (id:25961)

INTERESTED IN THIS PROPERTY?

General Inquiry
Courtesy of RE/MAX HALLMARK SAM MOUSSA REALTY

Listed on: November 27, 2024

On market: 77 days
Heating Type Baseboard heaters

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DAVID OIKLE

BROKER

384 Richmond Road

Ottawa, ON. K2A 0E8

Phone: 613.729.9090

CONTACT DAVE

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