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1368 LABRIE AVENUE
Ottawa, Ontario K1B3M1

$2,350,000

ID# 1399921

ABOUT THIS PROPERTY

DEVELOP & CONSTRUCT or OWN & OPERATE - Be opportunistic in a transitioning neighborhood! Recently rezoned TD1 site on 0.34 acres (see reports). Under 400m to the Cyrville Station with architectural plans for a 6-storey mid-rise. Currently operates as Triplex-Office with three 2BDRM units, an office building and fenced storage yard. Unit 1 (lower): Renovated 2 bdrm $2100/month incl. Unit 2 (ground): Spacious-upgraded eat-in kitchen $1950/month incl. Unit 3 (upper): Bright-upgraded kitchen and bath $1940/month incl office outbuilding with bathroom Fenced Year Yard: Vacant-previously leased for $1350/month for equipment storage - professionally graded with compacted gravel and separate gated entrance. Storage Shed: 2 Storage Units included with Unit 1&2 Parking: 20 (8 tenant) Current income is 71k/year with potential to increase to 88k/year. Notices for rent increases of 2.5% take effect in October 2024. Existing leases 1yr+ (id:25961)

PROPERTY DETAILS

Cooling Type Central air conditioning
Flooring Type Laminate, Vinyl, Ceramic
Heating Type Baseboard heaters, Forced air
Heating Fuel Electric, Natural gas
Stories Total 2

Property Type

Multi-family
Courtesy of EXP REALTY

Listed on: July 13, 2024

On market: 133 days

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