276 Powell Ave,Glebe - Ottawa East and Area, ON K1S 2A5
Glebe - Ottawa East and Area, ON K1S 2A5
Description
6.4% cap rate with gross annual revenue over $210K and NOI of $122K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City's principal residence requirement for STR. Classified as a "legally non-conforming hotel" with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout.
Details
| MLS# | X9515157 |
|---|---|
| Listing Type | For Sale |
| Building Name | N/A |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 183 |
| Listing Provided By | SUTTON GROUP - OTTAWA REALTY | Not Provided |
Features
| Zoning | Commercial/Mixed Use |
|---|
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Learn More About This Property
| Province | ON |
|---|---|
| County | Glebe Ottawa East and Are |
| City | Glebe - Ottawa East and Area |
| Postal Code | K1S 2A5 |
| Area | Ottawa |
| Community Name | 4401 Glebe |
| Listing VS Median (in 4401 Glebe) | |
Price: $1,899,900 low | high Med: $0 On site: 183 low | high Med: | |