3000 sqft
$1,899,900
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:48414)
Business
Business Type
|
Other |
Business Sub Type
|
Other |
Property Details
MLS® Number
|
1380823 |
Property Type
|
Business |
Neigbourhood
|
Glebe |
Parking Space Total
|
4 |
Building
Constructed Date
|
1922 |
Size Interior
|
3000 Sqft |
Land
Acreage
|
No |
Size Depth
|
99 Ft |
Size Frontage
|
40 Ft |
Size Irregular
|
40 Ft X 99 Ft |
Size Total Text
|
40 Ft X 99 Ft |
Zoning Description
|
Commercial/mixed Use |
https://www.realtor.ca/real-estate/26604185/276-powell-avenue-ottawa-glebe