123-125 Pamilla Street Ottawa, Ontario K1S 3K9

None Baseboard Heaters, Forced Air


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 1280102
Property Type Multi-family
Neigbourhood Little Italy
Parking Space Total 7


Constructed Date 1900
Cooling Type None
Exterior Finish Brick, Siding, Stucco
Fireplace Present No
Foundation Type Stone
Heating Fuel Natural Gas, Electric
Heating Type Baseboard Heaters, Forced Air
Stories Total 3
Utility Water Municipal Water


Acreage No
Sewer Municipal Sewage System
Size Depth 100 Ft
Size Frontage 50 Ft
Size Irregular 0.11
Size Total 0.11 Ac
Size Total Text 0.11 Ac
Zoning Description R4ud



Contact us for more information

Generating Captcha

Carley Humphries

(613) 986-0898

Keller Williams Integrity Realty
2148 Carling Ave., Units 5 & 6
Ottawa, Ontario K2A 1H1

(613) 829-1818
(613) 829-3223

Your Favourites


No Favourites Found


Compare listings