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Business For Sale · Multifamily

438 LEWIS STREET, Ottawa

438 LEWIS STREET, Ottawa, ON K2P0T3

$1.1M total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

96%

About this property

Turnkey five-unit apartment building in Centretown offering immediate income and longer-term development potential. Over 300k in capital improvements over the last 10 years.The property is fully occupied and consists of three one-bedroom apartments and two bachelor units, with annual gross income of just over $79,000. The property may qualify for attractive CMHC MLI Select financing. Tenants pay their own hydro, while the landlord pays for heat and water. Additional income may be available from the on-site parking. The property sits on a 33' 99' lot and may be assembled with adjoining properties to create a development site of approximately 13,000 square feet. This property has a Walk Score of 100/100! Ideally located within walking distance of downtown, public transit, restaurants, shops and other amenities. A strong opportunity to acquire a stabilized income property with financing, rental and redevelopment upside. Contact the listing agent for further details regarding the potential land assembly, the rent roll & operating expenses. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.15M
Down payment30% · $345K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$57K

Annual cash flow

$-6K

Cash-on-cash

-1.82%

DSCR

0.90

Going-in cap

4.99%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

102,304

Households

40,884

Median income

$103,500

Median age

32.2

Daytime population

167,024

5-yr growth

9.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 438 LEWIS STREET, Ottawa.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.