TURNKEY! 16-unit building, carefully managed by the same owners for 27 years. The property has benefited from significant renovations and capital expenditures in recent years, including the roof, foundation, windows, and patio doors. The majority of units have also been rmodernized. Fully rented, with stable tenants and low turnover, the building generates solid income while offering potential for rent optimization in the medium term.
Ideal for a busy investor looking for an asset in good condition that is easy to manage.
Well-maintained building, stable tenants, renovated units.
Key renovations (roof, foundation, windows and patio doors) already completed, reducing capital expenditures in the short and medium term.
Central area, close to shops, highways and public transit.
5-6 minutes from the bridges to Ottawa.
2015 - Excavation and foundation membrane: Excavation around the building and installation of a waterproofing membrane on three sides of the foundation.
2019 - Roof: Complete roof replacement.
2019 - Replacement of all windows and patio doors.
2020 - Installation of 16 heat pumps + Fire-rated door for mechanical room.
2021 - Electrical system inspection - Master electrician certificate available.
2021-2025 - 11/16 units renovated in 5 years - 16/16 in the last 15 years: floors, paint, moldings.
2021-2025 - 16/16 bathrooms renovated (vanity countertop, ceramic floor, including ceramic on bathtub walls).
Key renovations (roof, foundation, windows and patio doors) already completed, reducing capital expenditures in the short and medium term.
The sale is made without any legal warranty of quality, at the buyer's own risk.
| Cadastral number | 1 089 405 |
| Total Municipal Assessment | $2,368,600 |
| Municipal Land Assessment | $401,100 |
| Municipal Building Assessment | $1,967,500 |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1971 |
| The sale is made without legal warranty of quality at the buyer's risk. | |
| Fire System | Yes, compliant |
| Type of Parking | Outdoor |
| Number of Parking Spaces | 17 |
| Land Surface Area | 11,984 sq. ft. |
| Laundry Room | Space present - Used as storage by the owner |
| Number of Rooms | 15 x 4.5 - 1 x 3.5 |
| Number of Units | 16 |
| Washer/Dryer Inlet | Yes in each apartment |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| The sale is made without legal warranty of quality at the buyer's risk. | |
| Plumbing | Copper, PEX and ABS |
| Condition of Roof | 2019 |
| Condition of Doors | Entirely replaced in 2019 |
| Condition of Balconies | Good condition |
| Concierge Agreement | Yes |
| Intercom and Doorbell | Yes |
| Heating System | Electric baseboards | 16 Heat pumps (2020) |
| Hot Water System | Individual |
| Condition of Windows | Entirely replaced in 2019 |
| Condition of Kitchens | Good condition |
| Electrical Panels | Breakers |
| Exterior Siding | Brick, Aluminum |
| Condition of Bathrooms | All bathrooms have been renovated within the last 5 years |
| Floor Covering | Floors redone in 12 of the 16 units |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $237,180 | 100 % | $1,235 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $237,180 | $1,235 | |
| Vac. / Bad debt | $7,115 | 3 % | $37 |
| EGR | $230,065 | $1,198 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $11,503 | 5 % | $719 |
| Municipal Taxes | Current | $24,763 | 10.8 % | $1,548 |
| School Taxes | Current | $1,851 | 0.8 % | $116 |
| Insurance | Current | $8,520 | 3.7 % | $533 |
| Electricity | Current | $582 | 0.3 % | $36 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $6,400 | 2.8 % | $400 |
| Maintenance | Normalised | $11,200 | 4.9 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $2,301 | 1 % | $144 |
| Alarme | Current | $992 | 0.4 % | $62 |
| Total expenses | $68,112 | 29.6 % | $4,257 | |
| Net Revenue | $161,953 | $10,122 |
| SCHL | |||
|---|---|---|---|
| Maximum loan amount | $2,183,212 | $2,950,076 | $3,086,831 |
| Financing CAP | 6.31 % | 4.67 % | 4.98 % |
| Debt coverage ratio | 1.3 | 1.1 | 1.1 |
| Interest Rate | 4.0 % | 4.0 % | 4.0 % |
| Amortization | 30 Years | 40 Years | 45 Years |
| Term | 5 Years | 5 Years | 5 Years |
| SCHL | |||
|---|---|---|---|
| Net Revenue | $161,953 | $161,953 | $161,953 |
| Annual Mortgage Cost | $131,692 | $155,433 | $155,766 |
| Net cash after mortgage | $30,260 | $6,520 | $6,187 |
| RETURN ON INVESTMENT | |||
| Down Payment | $1,616,788 | $849,924 | $713,169 |
| Cash on cash return | 1.9 % | 0.8 % | 0.9 % |
| Return on liquidity + capitalization | 4.4 % | 4.6 % | 4.6 % |
| Total yearly return with appreciation of 2 % | 9.1 % | 13.53 % | 15.27 % |
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