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$ 799,000
Est. payment /mo
Price Dropped by $31K
1368-1370 MEADOW DRIVE Ottawa, ON K4P1N3
6 Beds
4 Baths
2,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $319
Subdivision 1601 - Greely
MLS® Listing ID X12114166
Bedrooms 6
Source Ottawa Real Estate Board
Property Description
1370 #1, #2 and 1380 Meadow a century side by side with a third unit. Century side-by-side with a third unit under one ownership. Yearly rents of $60,420. Cash flow of $48942 With potential to add more income with 1.1 acres VM3 zoning, allowing for many additional uses such as: adding units, outside storage, mechanic shop, place of worship, retail, dog park, medical building, and more. or tear down and build 5 townhouses or sever into two building lots or build massive commercial res split use. Or hold for City services. Buyer to Confirm with City for any future builds. All units have been extensively updated over the past 10 years. Granite counters in all units. The property has an attractive Village mixed-use zoning allowing for many interesting things including a lowrise apartment building, row units, and mixed-use to name a few. The city of Ottawa says up to 10 units are allowed without a site plan approval for future development. The 1.1 acre is lined with mature trees, cleared and low-sloping. Excess land could be used for building an outbuilding or garage. The far side of the carport needs some attention or a portion to be removed. All units have Copper wiring, breaker panels, separate gas meters and in-unit laundry. in 2016-2020 2 furnaces and 2 owned Hot water tanks replaced. The sliver of land shown in the last picture on the north side of the property is included. Great tenants that pay rent via e-transfer every month., Flooring: Vinyl, Flooring: Laminate 1370 #1; 2 bed, 2 bath, 2 car garage, Laundry in unit, gas furnace. HWT owned. lease end Aug 2025 Rent $1750 tenant pays gas, hydro included. 1370 #2 ; 2 Bed 1 bath gas furnace and gas HWT owned. rent $1750 Tenant pays gas, hydro included. lease end Aug 2024. 1368; 2 bed 1 bath, Laundry in unit, electric baseboard heat, owned HWT. Rent $1535 tenant pays gas and electricity. Lease end Aug 2025. Mpac has the property as a semi detached under one ownership (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Fireplaces Number 1
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 8
Private Pool No
Building
Story 2
Sewer Septic System
Listed by SOLID ROCK REALTY