1216 Shillington Ave
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1216 Shillington Ave
30 Unit Apartment Building $4,867,828 USD ($162,261 USD/Unit) Ottawa, ON K1Z 7Z4
Executive Summary
Located in a strategic area, 1216 Shillington Avenue presents a compelling investment opportunity in the multifamily real estate market. This property sits on 0.46 acres of land and includes a diverse mix of 30 residential units comprising one bachelor, 28 one-bedroom units, and one two-bedroom unit. With a large parking lot at the back, it combines convenience with potential. Projected to generate a Net Operating Income (NOI) of $339,877 in year 1, 1216 Shillington Avenue stands out as a value-add investment. Currently, 13 units are vacant, presenting an immediate opportunity for an investor to implement a renovation and leasing program. This initiative not only promises to enhance the property’s value but also to significantly increase rental income, with an average upside potential of 72%. A distinct financial advantage of this property is the separate metering of hydro for all units, which facilitates a shift of utility costs to tenants and helps in maintaining more predictable operating expenses. For investors seeking a real estate venture with high growth and value-enhancement possibilities, 1216 Shillington Avenue offers a unique opportunity. The property’s location makes it an attractive option for those looking to capitalize on a robust rental market and maximize their investment returns.
Property Facts
Price | $4,867,828 USD | Building Class | C |
Price Per Unit | $162,261 USD | Lot Size | 0.46 AC |
Sale Type | Investment | Building Size | 25,000 SF |
No. Units | 30 | Average Occupancy | 57% |
Property Type | Multifamily | No. Stories | 3 |
Property Subtype | Apartment | Year Built | 1960 |
Apartment Style | Low Rise |
Price | $4,867,828 USD |
Price Per Unit | $162,261 USD |
Sale Type | Investment |
No. Units | 30 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.46 AC |
Building Size | 25,000 SF |
Average Occupancy | 57% |
No. Stories | 3 |
Year Built | 1960 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Biker's Paradise (95)
zoning
Zoning Code | R4UC S192 (Residential) |
R4UC S192 (Residential) |
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1216 Shillington Ave
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