Listing Details
Return to Search Result276 POWELL AVENUE - MLS® # 1374601
Property Details
Description
6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City’s principal residence requirement for STR (Airbnb). Classified as a “legally non-conforming hotel” with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout. Summer STR revenue will be HOT! Act Now! (id:2469)
Features
Balcony
Amenities
Public Transit, Recreation Nearby, Shopping
Listing Provided By
SUTTON GROUP - OTTAWA REALTY
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- GRINDSTONE REALTY INC.
- 613-695-5888
- 613-695-5888
- 613-695-8088
- Info@GrindstoneRealty.ca
- Grindstone Realty Inc.
- 250B Greenbank Rd. - Suite 235
- Ottawa, ON
- K2H 8X4