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Jean Richer & Irene Bilinski
Bilingual Sales Representatives

6599 FOURTH LINE ROAD North Gower, K0A2T0

499K For sale

MLS ID: 1087743

Property Details

6 unit RESIDENTIAL BUILDING on the MAIN STREET in North Gower - 25 min from the heart of Ottawa, 15 min from Barrhaven. VERY RARE and VERY PROFITABLE. On well and Septic, so NO water/sewer bills! Septic tank is 20yrs old, pumped every 2 years (last pump 2017). Some small updates needed: Metal roof to be painted, small porch roof to be replaced. Currently only 2 of the 5 parking spaces are being used. Parking on both sides of the building. Lot is 65 ft wide x 97 ft deep. All units are LARGE 1-bedrm units, which have flooring and some random updates. All are NEW TENANTS on lease in 2017 and pay $675/month + heat and hydro. One unit is vacant for purpose of viewing and will rent for $675. Laundry is $1800/yr++. Gross income is $50,400/yr incl laundry and fully leased. Expenses - Hydro for common areas and laundry $1379 + Property taxes $4413 + Insurance $3475 = $9267/yr. Total Net Operating Income - $41,333/yr... if self managed and fully rented - 8.28% CAP RATE. (id:6117)

This Multi-family property is located in the neighbourhood of North Gower in the Ottawa area. Built in 1920, the property includes and is priced at $499,000.

When considering this Ottawa real estate, proximity to important landmarks and destinations can be one of the main factors in buying this home.


Consider the distance to some of the following areas:
Algonquin College 24.21 KM
Canadian Tire Centre 24.73 KM
Bayshore Mall 24.99 KM
Carleton University 28.31 KM
Lansdowne Park 29.57 KM
Downtown Ottawa 32.45 KM
University of Ottawa 32.54 KM
St. Laurent Mall 32.88 KM
City of Hull/Gatineau 33.07 KM
Place d'Orléans 41.71 KM

Priced at $499,000, you can own this Ottawa Multi-family property, for as little as ${{Data.ModgaeModel.MonthlyPayment}} monthly. Our real estate agents are available to answer any questions about this North Gower, Ottawa home.



Amenities

Price 499K
Status For sale
Type Multi-family
Location 6599 FOURTH LINE ROAD
Total Parking 5
Year Built 1920
Exterior Finish Siding
Heating Baseboard heaters
Foundation Type Stone
Brokerage RE/MAX HALLMARK REALTY GROUP

Room and Dimesnions

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