Posted by: Max Balan
Each week, Max breaks down the numbers for a great investment property in Ottawa
You can reach out to Max and the team any time too make a move, to get the numbers on a property you’re interested in, or get the latest stats on the Ottawa market.
We have an amazing opportunity for you in the sought-after North Grower area of Ottawa — a triplex located at 6607 Fourth Line Road.
This unique property comes with a stipulation that it must be sold with two other properties, 6609 and 6613, also situated on Fourth Line Road. Although all three properties are being sold together, let’s focus on 6607 for now.
Let me run some quick numbers for you. This triplex is fully rented, with some renters on a month-to-month basis. The property generates over $50,000 per year in rental income. And that’s just for 6607 Fourth Line Road! Additionally, the property features a charming brick exterior and ample parking space for up to 10 vehicles.
One of the standout features of this location is its zoning, which allows for both residential and commercial use. So if you’re looking for a property with potential for development, you have plenty of options here. The best part? Since the triplex is fully rented, you can start making money immediately while you consider your future development plans. It’s definitely worth considering down the road!
The purchase price for this fantastic investment opportunity is set at $545,000. Remember, all three properties need to be purchased together, offering you the freedom to make changes and undertake construction as you see fit.
I’d like to express my gratitude to Adam Mills, the listing agent from Royal Lepage Team Realty, for allowing us to feature this property as our deal of the week. If you’re interested in visiting the property or have any questions, please feel free to reach out to the listing agent or contact me and my team directly at nickfundytus.ca.
Links
Monthly financial breakdown
Monthly gross rental income: $4,212
Acquisition costs
Down payment: $109,000
Home inspection: $500
Total acquisition cost: $159,000
Monthly operating expenses
Insurance: $280
Taxes: $166.75
- Total monthly cost: $446.75
Debt services
Purchase price: $545,000
Mortgage amount: $436,000
Down payment (20%): $109,000
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I’m Max Balan, a realtor at Royal Lepage on the Nick Fundytus team, and this has been your deal of the week. Stay tuned for more exciting opportunities in the future!
Sources
Royal Lepage Team Realty: Listing Agent: Adam Mills
Nick Fundytus team website: nickfundytus.ca
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