8 POTVIN STREET

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Description

Fully occupied 6 unit purpose-built rental property located in the lovely town of Bourget about a thirty-minute drive East of Ottawa. Zoning is grandfathered to permit the property to continue operating as a 6-plex. All units are one bed one bath. Bathrooms have been updated within the last few years. Rent is on a gross basis with all utilities included. Projected to generate gross revenue of $41,580 in 2022. Net revenue is projected to be $21,210 in 2022. The property is self-managed and maintained. The valuation has been established using a 4% cap rate after deducting a 5% vacancy contingency. This is a value add investment opportunity. The next owner can increase the net revenue by installing separate hydro meters and water submeters, turning over tenants and updating the unit interiors to increase rent. The natural gas furnace is approximately 5 years old. Storage sheds are included, with the exception of one storage unit owned by a tenant. To be sold in as-is condition. (id:21126)

Property Location

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Last Modified: Fri, 22 Jul 2022 16:11:48 GMT

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