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147 DESCHAMPS AVENUE Ottawa, ON K1L5Z5
6,108 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 6108
Square Footage 6,108 sqft
Price per Sqft $654
Subdivision 3402 - Vanier
MLS® Listing ID X14157902
Property Description
An exceptional opportunity to acquire a fully redeveloped, turnkey 10-unit apartment building just minutes from downtown Ottawa. Extensively reconstructed from the studs and reconfigured into 10 modern residential units, this property offers investors a high-quality, income-producing asset with significant capital improvements already completed. The building features six spacious 3-bedroom apartments, three 1-bedroom units and one studio, providing a desirable rental mix with strong income potential. Each unit features modern kitchens, stainless steel appliances, updated bathrooms, quality finishes, and convenient in-suite laundry, with the spacious 3-bedroom suites further enhanced by quartz countertops and full-slab quartz backsplashes. Beyond the interiors, the extensive redevelopment includes all new electrical, plumbing & heating systems, upgraded insulation, modernized common areas and enhanced fire safety systems. A significant advantage is the separately metered hydro, gas and water for each unit, allowing tenants to pay their own utilities & helping minimize operating expenses. With major building systems replaced & high-quality finishes throughout, this property offers investors a low-maintenance asset with reduced near-term capital expenditure requirements. Four units offer affordable housing potential, which can support eligibility for CMHC MLI Select financing, subject to program requirements & approval. Additional revenue opportunities may exist through exterior storage lockers. Conveniently located near Beechwood Avenue, downtown Ottawa, uOttawa, Montfort Hospital, government employment hubs, shopping & public transit, the location offers broad tenant appeal. With attractive projected rental income, operating efficiencies and long-term appreciation potential, this is an ideal addition to an established investment portfolio. Detailed financial projections, operating expenses and cap rate analysis are available upon request. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Listed by ENGEL & VOLKERS OTTAWA