Ottawa, ON K1L7A3 331 MONA AVENUE

Excellent Investment Opportunity in Vanier!This sixplex offers a desirable mix of four 1-bedroom and two 2-bedroom units, each with its own private entrance, eliminating common areas and reducing maintenance. With a strong cap rate of 5.82%, this property is priced to sell and offers exceptional cash flow potential. The property generates a yearly income of $86,837.28 with a net operating income of approximately $69,794.25.Recent capital improvements include a new hot water boiler system, new siding, a new front staircase, and a new sump pump, ensuring long-term durability. Several units have been renovated, generating strong rental income with room for future rent increases, making it easier to qualify for financing. The property features four parking spaces, with tenants handling snow removal, and offers potential to generate additional revenue by charging for parking. There's also an opportunity to add a laundry facility in the utility room for extra income. Located in Ottawa's high-demand Vanier rental market, this property boasts a Walk Score of 89, meaning most daily errands can be completed on foot. Public transportation is easily accessible, with multiple OC Transpo bus routes connecting to downtown Ottawa and key destinations. The area offers a variety of amenities, including the Richelieu-Vanier Community Centre for recreational and cultural activities, as well as the Vanier Museopark for outdoor green space and year-round programming. Don't miss out on this multi-unit investment, schedule your viewing today! (id:7434)