424 Nelson St
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424 Nelson St
4 Unit Apartment Building $1,537,951 USD ($384,488 USD/Unit) 6.32% Cap Rate Ottawa, ON K1N 7S7
Executive Summary
Fantastic 6.1% CAP 4-plex with opportunity to increase cashflow by approx. $33K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bath, 2-5 bed 2 bath. All suites are tenanted on 1 master lease and not rented by the room. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill neighborhood. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining
Property Facts
| Price | $1,537,951 USD | Building Class | C |
| Price Per Unit | $384,488 USD | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 5,105 SF |
| Cap Rate | 6.32% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1902 |
| Property Subtype | Apartment | Parking Ratio | 0.59/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,537,951 USD |
| Price Per Unit | $384,488 USD |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 5,105 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1902 |
| Parking Ratio | 0.59/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 2 | - | - |
| 5+1 | 2 | - | - |
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (86)
Bike Score ®
Biker's Paradise (97)
zoning
| Zoning Code | R4 (Residential fourth density zone.) |
| R4 (Residential fourth density zone.) |
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424 Nelson St
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