123-125 Pamilla Street Ottawa, Ontario K1S 3K9
$1,950,000
Incredible redevelopment opportunity in the heart of Little Italy. Operate at a 5% cap rate and over $2k cash flow in the meantime. Steps to Preston St. R4-UD zoning provides multiple options for this 50x100 land assembly. City of Ottawa frontage and lot area requirements for R4-UD suggest potential as a 9+ unit low-rise apt building, up to 14.5 meters (4 storeys+basement). Highest & best use is estimated to be a 10-to-20-unit low-rise. Many new condo developments within sight. During the planning phase, this property will provide extraordinary income. Currently a 5% Cap rate with $2,324 monthly cash flow! Why purchase land producing zero income while waiting to develop? Cash flow for these for months or years until the time is right to break ground, or speculate on land value and re-sell at a profit. 123 Pamilla has four 1-bed units totalling $6,275 per month. 125 Pamilla is a 5-bedroom single family home earning $3,475 per month. Gross income ~$119k, NOI ~$97k, Cash flow ~$29k. (id:41211)
Property Details
| MLS® Number | 1280105 |
| Property Type | Vacant Land |
| Neigbourhood | Little Italy |
| Features | Other |
| Road Type | Paved Road |
Building
| Basement Development | Not Applicable |
| Basement Type | Unknown (not Applicable) |
| Fireplace Present | No |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Current Use | Development Residential |
| Sewer | Municipal Sewage System |
| Size Depth | 100 Ft |
| Size Frontage | 50 Ft |
| Size Irregular | 0.01 |
| Size Total | 0.01 Ac |
| Size Total Text | 0.01 Ac |
| Zoning Description | R4ud |
https://www.realtor.ca/real-estate/24087779/123-125-pamilla-street-ottawa-little-italy
Interested?
Contact us for more information
Carley Humphries
Salesperson
2148 Carling Ave., Units 5 & 6
Ottawa, Ontario K2A 1H1
(613) 829-1818
(613) 829-3223
www.kwintegrity.ca
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Ottawa Real Estate Board
Keller Williams Integrity Realty
March 22 2022 12:11:38
