Posted by: Max Balan
Each week, Max breaks down the numbers for a great investment property in Ottawa
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1370 Meadow Dr. Ottawa, a triplex with a high market cap.
This investment boasts an almost 6% capitalization rate with current rental incomes. What makes this property particularly attractive is its substantial potential for increased revenue, thanks to its extensive 1.1-acre land zoned as VM3, enabling various additional uses like expanding the unit count, outdoor storage, a mechanic shop, a place of worship, retail spaces, a dog park, a medical building, or even a gas station. Moreover, all units have undergone significant updates over the past decade, including the installation of granite countertops. The property stands on a beautifully landscaped 1.1-acre lot with mature trees and a gentle slope. Furthermore, each unit is equipped with modern amenities, such as copper wiring, breaker panels, separate gas meters, and in-unit laundry facilities. Recent upgrades from 2016 to 2022 include the replacement of both furnaces and three owned hot water tanks. The listing also includes an additional piece of land located on the north side of the property. With reliable long-term tenants under leases of 1-2 years, all paying rent through e-transfers, this investment opportunity presents a lucrative proposition, and the listing agent is the owner himself.
Monthly financial breakdown
Monthly operating expenses
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I’m Max Balan, a realtor at Royal Lepage on the Nick Fundytus team, and this has been your deal of the week. Stay tuned for more exciting opportunities in the future!
Download Max’s financial analysis of this property.