Mortgage Affordability Calculator
Mortgage Insurance Calculator
Land Transfer Tax Calculator
Find Dream Home
Neighborhood Sold Report
March 21, 2018
$499,000 For Sale
6599 FOURTH LINE ROAD, North Gower, Ontario, Canada, K0A2T0
8. 24% CAP RATE when self-managed and maintained! This 6 unit RESIDENTIAL BUILDING on the MAIN STREET in North Gower - is 25 min from the heart of Ottawa, 15 min from Barrhaven. VERY RARE and VERY PROFITABLE. On well and Septic, so NO water/sewer bills! Septic tank is 20yrs old, pumped every 2 years (last pump 2017). Some small updates needed: Metal roof to be painted, small porch roof to be replaced. Currently only 2 of the 5 parking spaces are being used. Parkiing on both sides of the building. Lot is 65 ft wide x 97 ft deep. All units are LARGE 1-bedrm units, w/ flooring and random updates. All TENANTS on lease since 2017 and pay $675/month + heat and hydro. One unit is vacant for purpose of viewing and will rent for $675. Laundry is $1800/yr++. Gross income is $50, 400/yr incl laundry and fully leased. Expenses - Hydro for common areas and laundry $1379 + Property taxes $4518 + Insurance $3475 = $9372/yr. Total Net Operating Income - $41, 438/yr. (id:5856)
Listing Contracted With: RE/MAX HALLMARK REALTY GROUP
(Independently Owned & Operated)
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind.
What's Your Walk Score?
Properties You May Be Interested In
Properties Within The Same Area
RE/MAX Hallmark Realty Group, Brokerage, Independently Owned & Operated