Description
Excellent opportunity to acquire a purpose-built multi-residential property in one of Ottawas most desirable urban neighbourhoods. 238 Carruthers Avenue features 10 fully furnished, all-inclusive units with 21 total bedrooms, supported by modern security systems including cameras, intercom, and digital locks. Each unit is separately metered for hydro, providing efficiency and reduced operating costs. The property generates annual revenue of $313,786 and a Net Operating Income of $220,557, giving a strong 5.0% cap rate. The location offers an unbeatable lifestyle for tenants, with a 98 Walk Score, 83 Transit Score, and 99 Bike Score. Residents are just steps from Wellington Street West with its wide array of shops, restaurants, cafés, and everyday conveniences, while also being minutes from downtown, the Ottawa River pathways, and LeBreton Flats. Additional income is provided through on-site parking and laundry, further strengthening the properties return profile. With stable cash flow, modern upgrades, and a proven rental model, 238 Carruthers presents a rare opportunity to secure a turnkey, purpose-built investment property in a high-demand location with long-term appreciation potential
Overview
Property ID:
X12401668
Type:
Investment
Square:
6,028 m²
Price:
$4,415,000
PropertyType:
Commercial
TransactionType:
For Sale
BuildingAreaUnits:
Square Feet
Cooling:
Yes
Heating:
Gas Hot Water
ParkingFeatures:
None
YearBuilt:
Unknown
TaxAnnualAmount:
26426
PossessionDetails:
TBD
Map
-
AddressWest Centre Town
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