Owner completely and tastefully renovated in 2019 with new addition at rear. Building is Fully Rented. Commercial Tenant spent over $1M in improvements main floor and lower level and has 7 years left of a 10 year lease term. Net Rent $6k/mth plus $2.5k/mth recoverable. Net Rent increases in 2 years by 12.5%. 3 large newly renovated residential apartments: 1-1 bedroom apt($1550); 1-2 bedroom apt($1855); 1-3 bedroom apt($2810). Top Upgrades with all new appliances in apartments. Each unit has its own gas furnace, hydro meter, AC. All tenants pay own hydro/gas. Current NOI: $131,394. NOI will increase annually with standard annual rent increases for residential and $9k in 2 years for commercial. Solid investment, prime location; one of the most beautiful streets in Ottawa. (id:41211)
MLS® Number | 1273609 |
Property Type | Retail |
Neigbourhood | Centre Town |
Parking Space Total | 3 |
Constructed Date | 1910 |
Fireplace Present | No |
Acreage | No |
Size Depth | 112 Ft ,6 In |
Size Frontage | 34 Ft ,10 In |
Size Irregular | 34.84 Ft X 112.5 Ft |
Size Total Text | 34.84 Ft X 112.5 Ft |
Zoning Description | Tm(2185) H (18) |
https://www.realtor.ca/real-estate/23909424/327-somerset-street-w-ottawa-centre-town
Contact us for more information
Gary Shaker
Broker of Record
(613) 261-9100
www.shakerrealty.ca
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