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$3,565,000
Available - For Sale
Listing ID: X11228242
Welcome to Richmond, the fast developing rural suburb of Ottawa in the heart of the Greenbelt. This is an incredible opportunity to invest in the residential rental property in the heart of Richmond at a a fair price. This property consists of 16 x one bedroom apartments of various sizes, average rent is $1,182/month, meaning there is significant upside potential. The owner has been renovating units as they become available, however there are a number that still need upgrading. The building is built on a slab so all units are direct walk-in and could easily be converted to a seniors residence. Unit sizes vary from 500sq ft to close to 800sq ft which provide potential to add a second bedroom and higher rents. The owner has also installed coin op washer and dryers plus a reverse osmosis water system that sells bottled water for additional income. Another feature is that the property enjoys a residential tax rate that is far lower than comparable properties. Units are electric heat and tenants pay their own electric bills and . In considering this property, buyers should be aware that the property is slightly larger than an acre and given it's corner location on the main street of Richmond, it could provide the cornerstone of a land assembly. Property has been owner managed for 27yrs and all maintenance issues are dealt with promptly. **EXTRAS** All offers must include the completed Schedule B attachment
Price $3,565,000
Taxes: $21,874.68
Tax Type: Annual
Occupancy by: Tenant
Address: 5931 Perth St , Stittsville - Munster - Richmond, K0A 2Z0, Ontario
Postal Code: K0A 2Z0
Province/State: Ontario
Legal Description: PCL 24-1, SEC 4D-22 ; UNIT 24, PL 4D-22
Lot Size: 150.67 x 248.75 (Feet)
Directions/Cross Streets: Perth Street
Zoning: V3E[503r]
Category: Apartment
Use: Apts-13 To 20 Units
Building Percentage: Y
Total Area: 1.1
Total Area Code:  Acres
Area Influences: Grnbelt/Conserv   Rec Centre
Approximatly Age: 51-99
Business/Building Name: Perth Inn Motor Hotel
Financial Statement: Y
Chattels: N
Franchise: N
LLBO: N
Taxes Expense: $21875
Insurance Expense: $8548
 Management Expense: 11181
Maintenance: 12,000
 Hydro Expense:  $1736
Water Expense: $9300
Other Expenses: $7085
Gross Income/Sales: $227016
Operating Expenses: $71725
Vacancy Allowance: 3405
Net Income Before Debt: $161486
Expenses Actual/Estimated: $Act
Sprinklers: N
Outside Storage: N
Crane: N
Heat Type: Baseboard
Central Air Conditioning: N
Water: Well
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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
RE/MAX HALLMARK SAM MOUSSA REALTY

5931 Perth St , Stittsville - Munster - Richmond, K0A 2Z0, Ontario


 
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Type: Com - Investment
Area: Ottawa
Municipality: Stittsville - Munster - Richmond
Neighbourhood: 8204 - Richmond
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Lot Size: 150.67 x 248.75(Feet)
Approximate Age: 51-99
Tax: $21,874.68
Maintenance Fee: $12,000
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