Just Listed
Address
218-220 Mcarthur Avenue, Ottawa, ON
Price
$ 1,400,000
Property Attributes
  • ID#X13813626
  • TypeMulti-Family
  • Listing Status Active
  • MunicipalityOttawa
  • CityOttawa
  • Neighbourhood3404 - Vanier
  • Postal CodeK1L 6P5
  • Style19
  • Price$ 1,400,000
  • Bedrooms2
  • Bathrooms4
  • Half Bathrooms0
  • Sqr Footage2000
Data Source:
RLP - CREA EN
Property Description

ATTENTION BUILDERS & INVESTORS - SHOVEL READY 9 UNIT DEVELOPMENT Vanier, Ottawa. 220 McArthur Avenue represents a rare opportunity to acquire a fully entitled, shovel ready development site in one of Ottawa's fastest intensifying urban corridors. Ideally positioned steps from Vanier Parkway and McArthur Avenue, the site benefits from excellent transit connectivity, proximity to downtown, and strong longterm rental fundamentals. The property is offered at $1.4M as land with approvals, featuring a demolition permit issued and fully approved architectural plans for a 9 unit residential building. All utilities have been fully disconnected, allowing for an immediate and efficient start to redevelopment. Estimated Project Economics (Upon Completion) Approximate Gross Monthly Rental Income: $20,600, Approximate Gross Annual Rental Income: $247,200, Estimated Stabilized Net Operating Income (NOI): ~$181,764 Capitalization Rate Applied: 5.50% Estimated Stabilized Value: ~$3.3M. A future value appraisal has been completed by an AACI designated appraiser, with valuation conclusions based on the above stabilized income assumptions, subject to construction in accordance with the approved plans. Preliminary construction cost guidance suggests approximately $1.8M, subject to final contractor pricing, scope confirmation, and purchaser due diligence. To obtain the final release of approved plans from the City, a known and fully disclosed municipal payment of approximately $95,000 remains outstanding.The project is eligible for CMHC MLI Select financing, offering the potential for below prime interest rates and amortization periods of up to 50 years, significantly enhancing leverage, cash flow, and long term return potential, subject to CMHC and lender approval. NDA required prior to the release of architectural drawings, appraisal materials, supporting documentation, or the scheduling of site visits

General Features

Terms SALE
Neighbourhood 3404 - Vanier
Property Sub Type MULTI-FAMILY
jumpId 29272600
Property Subtype French MULTI-FAMILY
Listing Type French Investment
MLS X13813626
Building Type Fourplex
Property Type Multi-family
Sewer Sanitary sewer

Interior Features

Living Area Range 2000 sqft
Bedrooms 2
Basement Type Crawl space
Cooling Type Central air conditioning
Foundation Type Concrete
Heating Fuel Electric, Natural gas
Heating Type Forced air, Heat Pump
Beds 2
Total Baths 4
Total Baths 4

Exterior Features

Exterior Finish Vinyl siding
Parking Type No Garage

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in K1L 6P5

Price
AVG $1.4M
$1.4M