Posted by: Max Balan
Each week, Max breaks down the numbers for a great investment property in Ottawa
You can reach out to Max and the team any time too make a move, to get the numbers on a property you’re interested in, or get the latest stats on the Ottawa market.
267 St. Jacques St, 5 unit property multifamily
Prime Rental stock presents an attractive opportunity with five spacious and well-lit one-bedroom suites, each professionally remodeled and boasting a solid 5% Cap rate. These meticulously maintained units, located in North Vanier near Lindenlea, offer both efficiency and pristine aesthetics. Conveniently situated within two blocks of the Richelieu Vanier community centre, Ottawa Library, a bus stop, and a corner grocery store, the property provides easy access to essential amenities. Surrounded by leafy forests and parklands, the suites feature separate entrances and meters, as well as common laundry, storage, and three parking spaces. Recent updates include the roof, decks/stairs, windows, kitchens, appliances, baths, flooring, furnace, and hot water tank. The property is currently occupied by excellent tenants, fostering a positive neighborly atmosphere, making it an uncomplicated and manageable investment.
Links
Monthly financial breakdown
Monthly gross rental income: $5515
Acquisition costs
Down payment: $171,980
Home inspection: $500
Total acquisition cost: $172,480
Monthly operating expenses
Insurance: $167
Total monthly cost: $649
Taxes: $482
Debt services
Purchase price: $859,900
Mortgage amount: $687,920
Down payment (20%): $171,980
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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!
Sources
EXP REALTY: Listing Agent Gary Underwood
Nick Fundytus team website: nickfundytus.ca
Financial Analysis
Download Max’s financial analysis of this property.
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