424 Nelson St
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424 Nelson St
4 Unit Block of Flats £1,203,370 (£300,843/Unit) 6.32% Net Initial Yield Ottawa, ON K1N 7S7
Executive Summary
Fantastic 6.1% CAP 4-plex with opportunity to increase cashflow by approx. $33K with 2 permit ready vacant studio spaces. This almost immediate increase in cashflow will increase the value well beyond the capital invested to create the new units. Property operates with 4 never vacant student rentals, 2-4 bed 2 bath, 2-5 bed 2 bath. All suites are tenanted on 1 master lease and not rented by the room. This is a very stable property that has operated under 1 management for 5+ years. The 2 spaces ready for development are at the back of the property and independent of the 4 existing units. Tenants pay all utilities but water. An incredible opportunity to own in the heart of the Sandy Hill neighborhood. Vacancies are highly sought after by renters due to its central location, and its proximity to the University of Ottawa, the Rideau Canal, parks, shopping & dining
Property Facts
| Price | £1,203,370 | Building Class | C |
| Price Per Unit | £300,843 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 5,105 SF |
| Net Initial Yield | 6.32% | Average Occupancy | 100% |
| No. Units | 4 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1902 |
| Property Subtype | Apartment | Parking Ratio | 0.59/1,000 SF |
| Apartment Style | Low Rise |
| Price | £1,203,370 |
| Price Per Unit | £300,843 |
| Sale Type | Investment |
| Net Initial Yield | 6.32% |
| No. Units | 4 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 5,105 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1902 |
| Parking Ratio | 0.59/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 4+1 | 2 | - | - |
| 5+1 | 2 | - | - |
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (86)
Bike Score ®
Biker's Paradise (94)
zoning
| Zoning Code | R4 (Residential fourth density zone.) |
| R4 (Residential fourth density zone.) |
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424 Nelson St
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