5 Bedroom Investment Property with great cashflow!
#116 - 2250 Cotters Crescent, Ottawa, Ontario K1V 8T4
Row/Town House with 5 Bedrooms and 2.5 Bathrooms.
About this property
2250 Cotter's Crescent is a hidden gem in the city, and this unit is configured perfectly, with 3 bedrooms upstairs and 2 bedrooms in the basement.
For the past 10 years, 5 students at a time have rented this unit, each paying $395/room. This is $1975/month or $23700/year on a property that only costs under $200k. That is a 11% cap rate (unheard of in Ottawa!).
In the 10 years, there hasn't been a single vacency. I can show all the leases. The unit has convient bus routes to Algonquin College, Ottawa U and Carleton.
The unit has been renovations from top to bottom, including: New upgraded bathroom, new deck, fresh paint everywhere, new Berber carpet on upper level and basement, new lighting fixtures, new electrical outlets. Since owning the unit, I have replaced the Central AC and the Furnace blower motor and upgraded the kitchen.
There should be no major maintenance for the next ten years, just positive cash flow.
Selling with Stove, Fridge, Dishwasher, Deep Freezer, Washer and Dryer.
Looking for a quick closing as I'm working overseas 50% of my time now.
driveway outdoor Parking with 1 spot
Hot Water Heater
Heating, Ventilation and CoolingCentral Air Conditioning
Special Rooms (Not Bedrooms)Dining Room
Indoor Amenities and UpgradesPet Friendly
Outdoor Amenities and UpgradesDeck