For Sale · Multifamily

311 RICHARD CIRCLE W, Ottawa

311 RICHARD CIRCLE W, Ottawa, ON K1L6W1

$799,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

86%

About this property

Rare opportunity in the desirable Kingsview Park area of Vanier! This fully renovated, legal two-unit detached property sits on a generous 50 x 100 foot R2 zoned lot on a quiet cul-de-sac. Ideal for investors or homeowners looking for a legal secondary unit to help offset mortgage costs. Completely renovated in 2020 with professionally completed work, this property features two updated kitchens, two new bathrooms, new flooring, paint and trim, plus an owned gas hot water heater. Ten appliances are included. The main floor offers a spacious family room, modern chef's kitchen with Island and stainless steel appliances, laundry and 3 good sized bedrooms. The bright lower unit features its own kitchen, bathroom and laundry, two bedrooms and large windows for plenty of natural light. Steps to Janville Park and playground and Kiwanis Park. Includes rare oversized parking, detached garage and private PVC fence added in 2024. Attachments include ESA certification and Occupancy Permit. Current tenants are month to month, Projected rents are $2700 and $1500 per month all inclusive. An excellent opportunity in a growing neighborhood !! 24 hours notice for showings. (id:66811)

Financial sandbox

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Estimate
Purchase price$800K
Down payment30% · $240K
Interest rate6.25%
Amortization25 years
Occupancy86%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$24K

Annual cash flow

$-21K

Cash-on-cash

-8.58%

DSCR

0.54

Going-in cap

2.97%

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

135,618

Households

64,459

Median income

$107,500

Median age

34

Daytime population

164,539

5-yr growth

2.1%

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

Secure deal room

Confidential diligence documents for 311 RICHARD CIRCLE W, 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.