191 Ethel Street, Ottawa ON

Ottawa, Ontario

$505,000

Triplex | Bedrooms – 6 (Unit 1 – 2 bed / Unit 2 – 2 bed / Unit 3 – 2)

Property Description

This Vanier 3 unit property (duplex with legal in-law suite) is a unique investment proposition, centrally located with excellent access to shopping, transit, and downtown is never vacant. Tenant conveniences include upgraded appliances, room to park 3 or 4 vehicles, in-suite laundry, all with separate entrances. Configured with 2 bedrooms and 2 bathrooms on each floor (unit),  this income property is ideal for an both owner occupier or savvy investor. Recently appraised at $523,000, this triplex is fantastic value at $505,000!

Taxes
$3,442 (2014)

Year Built
N/A

Lot Size
33.00 x 95.00

Bedrooms
6 (Unit 1-2 bed / Unit 2-2 bed / Unit 3- bed)

Bathrooms
3 (Unit 1-1 bath / Unit 2-1 bath / Unit 3-1)

Type Parking
Surface Parking

Total Parking
4

Heating
Forced Air

Fuel
Gas (Natural)

AC
None

Flooring
Laminate, Tile, Hardwood

Rented Equipment
HWT (1 owned 1 rented)

Inclusions:
3 Washer, 3 Dryers, 3 Fridges, 3 Stoves, 3 Dishwasher,
Exclusions:
Tenants Possessions.
191 ETHEL STREET, OTTAWA
$505,000
Income (April 2014 RR) Actual Projected
Unit 1 (Main Floor) 1,095 1,245
Unit 2 (Upstairs) 800 1,050
Unit 3 (Downstairs) 1,045 1,100
Total Annual Income $35,280 $40,740
Expenses (2014)
Property Tax 3,442 3,500
Insurance 1,320 1,375
Hydro 1,127 1,200
Gas 1,144 1,200
Water 1,013 1,070
Total Annual Expenses 8,046 8,345
Net Operating Income (NOI) $27,234 $32,395
Monthly Cashflow 2,270 2,700
Cap Rate 5.39% 6.41%

List of Upgrades:

2015

  • Replaced front steps
  • Painted front garden iron fence

2014

  • Replaced roof
  • Riser backing on back steps
  • Fixed minor crack in back of foundation
  • Fixed Skylight’s leak
  • Removed Galvanized plumbing for PVC
  • Added Parking & Removed old falling Garage
  • Purchased brand new Hot water Tank

New Lower Unit

  • Ripped to studs and installed new wiring, cleaned up all old electrical.
  • New kitchen (new plumbing to kitchen)
  • Soundproofing (Fire rated) insulation and drywall
  • New front window
  • New shower
  • Added insulation throughout

Added Value

  • 3 x Washer
  • 3 x Dryer
  • 3 x Dishwashers
  • 3 x Fridges
  • 3 x Stoves
  • ESA Certificate
  • Induct smoke detector
  • Ample Parking (4 spaces)(Legally only 1.5 spots needed)

shamirhome

Direct: 613.864.4212
Office: 613.236.5959

shamir@dayarealestate.com

Shamir Daya

Sales Representative
I offer exceptional representation in all aspects of real estate investment and development. I insist on providing first class service to my clients, from initial consultation to closing. I strongly believe that understanding my client’s needs is essential to the organization of any real estate acquisition or sale.

As a leading real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground. The real estate industry today is constantly evolving, and you need a professional who understands this diversity and is positioned to stay ahead of the game.


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