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Investment and Development Property in one. Double Lot 50x125ft! Strong 5.2% Cap Rate, Remodeled.
Explore 32 St. Francis, your gateway to an exceptional triplex investment opportunity with excellent returns, strong cap rate and excellent future development opportunities on a huge double 50x125 lot. All major re-modelling and upkeep expenses are complete. Enjoy a property with high rents, zero vacancy in the most desirable area of Ottawa with a huge lot affording room to add additional units.
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Property Details
Purpose built triplex on a huge double lot 50x125ft lot with second building containing a single garage bay, double garage bay, storage unit, 6 parking spots. Excellent income, strong cap rate and opportunity to expand and add additional units on back of lot. For the developer, similar lots are being approved in the area for 16units!
Unit Mix
Unit 3 - 2 Bedrooms (plus a separate office/laundry combo room). Bonus an additional 3 season loft. Balcony and Private outdoor patio. 1 bathroom. Fully remodeled. Split unit A/C and laundry in unit.
Unit 2 - 2 Bedrooms (plus a separate office/laundry combo room). Balcony and Private outdoor patio. Private entrance. 1 bathroom. Fully remodeled. Split unit A/C and laundry in unit.
Unit 1 - 1 Bedrooms (plus a separate office/den). Private outdoor patio. Private entrance. 1 bathroom. Fully remodeled. Laundry in unit.
Garage
1 single garage bay
1 double garage bay
1 man door 12x18ft storage
Income/Expense Details
Excellent numbers on this perfect Hintonburg location tri-plex investment property. $107292 gross, $86907 net 5.2% cap rate. What’s even better about this cap rate??? Unlike other buildings all the major update expenses have been completed in last few years! (see list below) Keeping your future net non impacted. Approximate numbers below.
$107,292 Gross Income
$2950 Unit 3 - including 1 parking spot (owner occ)
$2866 Unit 2 - including 2 parking spots
$1875 Unit 1 - including no parking spot.
$600 Garage bay #2 including 1 parking spot.
$200 Garage bay #1 no parking spot.
$200 Storage unit (owner occ)
$125 Parking spot #1
$125 Parking spot #5
$20385 Total Expenses.
$9385 Property tax
$2300 Gas
$3700 Hydro
$3300 Ins
$1700 Water
Major Property Improvements
2024 New gas hot water tanks (owned) $5k
2023 New boiler for building $15k
2023 New asphalt driveway and parking lot and armourstone $50k
2022 Unit 1 Updated interior with all new appliances $35k
2022 Unit 2 Updated interior with all new appliances$50k
2022 Unit 3 update with all new appliances $50k
2022 Interior paint and common area flooring $15k
2022 Landscaping front and back and interlock patios, fencing $55k
2022 Building Exterior and interior paint $12k
2022 Garage Exterior paint $8k
2022 Split unit A/C units $12k
2020 Main roof and Garage Roof $45k
Location
4 blocks from 417 parkdale exit
10min walk to light rail
4 min walk to wellington shops and restaurants
3 min civic hospital
UNIT 2&3
(same)
All 3 Units have private patios
UNIT 1
All 3 Units have private patios
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