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$ 2,600,000
Est. payment /mo
New
70 RUSSELL AVENUE Ottawa, ON K1N7X1
21 Beds
8 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500 - 5000
Subdivision 4004 - Sandy Hill
MLS® Listing ID X14147822
Bedrooms 21
Property Description
70 Russell Avenue | Built in 2018, this purpose-built four-unit residential investment property generates $224,625 in annual gross rental income with a NOI of $154,775.77. Located in Ottawa's Sandy Hill neighbourhood, the property offers four fully leased apartments: Unit 1: 5 bed, $4,500/month; Unit 2: 5 bed, $4,152/month; Unit 3: 5 bed, $4,216.75/month; Unit 4: 6 bed, $5,850/month. All units are currently leased, with fixed terms extending into 2027. The reported NOI is supported by a comprehensive operating expense statement, including recurring property management, maintenance and operating costs. Each apartment is independently configured on its respective level, extending from the front to the rear of the building, and features two full bathrooms, contemporary kitchens, durable flooring, large windows and in-suite laundry. At an asking price reflecting approximately a 6% capitalization rate, this property presents an attractive opportunity to acquire a modern, established income-producing asset. Unlike many of Sandy Hill's older converted rental properties, 70 Russell was purpose-built in 2018 with modern construction, thoughtfully designed interiors and spacious, functional layouts suited for student accommodations. Ideally situated in the heart of Sandy Hill, 70 Russell Avenue is within walking distance of the University of Ottawa, downtown Ottawa, the ByWard Market, public transit, restaurants and everyday amenities. This prime location, combined with the area's strong student rental demand, makes the property a compelling long-term investment opportunity. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Story 3
Sewer Sanitary sewer
Listed by SLEEPWELL REALTY GROUP LTD
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