64 Delaware Avenue, Ottawa - Business for Sale
64 Delaware Avenue, Ottawa, Ontario, K2P0Z3
This business in Ottawa is for sale offering roughly 3,453 sq ft of space. It has been on the market 29 days, fresher than the Ottawa average of 62 days.
Description
PROJECTED 5.37% CAP RATE AT $2,100,000. 64 Delaware Avenue: fully furnished, restored 5-plex in Ottawa's sought-after Golden Triangle. Projected annual gross income of $143,100 and NOI of $112,807, based on the following pro forma: 1 x two-bedroom suite at $2,700/month, 4 x one-bedroom suites at $2,150/month, plus $7,500/year from 5 parking spaces. Apartment rents total $11,300/month or $135,600/year. Deducting 3% vacancy/collection loss ($4,293), property taxes ($16,000), insurance ($5,000) and general maintenance ($5,000) yields the projected NOI above. Currently vacant, offering the opportunity to establish new tenancies at market-supported rents. Extensive updates, furnished suites and preserved architectural character complement this central location near the Rideau Canal, Elgin Street, shops and restaurants. Income figures are projections, not an existing rent roll. Cap rate is before financing; additional owner-paid utilities, management and replacement reserves are excluded. Buyers to verify achievable rents and complete operating costs. (id:66096)
Property Details
- MLS®
- X13869724
- Property Type
- Business
- Zoning
- R4V
- Parking
- 7
- Interior Size
- 3,453 ft²
- Frontage
- 44 ft
- Building Area
- 3,453 ft²
- Heating
- Radiant heat
- Cooling
- Fully air conditioned
- Property Tax
- $15,891.15/yr
- Listed
- 29 days ago
Features
- Appliances
- Furniture
Services
- Water
- Municipal water
Features and services as supplied by the listing brokerage.
Market Timing
Extended: 29 days on market, against an average age of 62 days across the listings currently for sale in this city
This business in Ottawa has been listed for 29 days, which is 33 days fresher than the city average of 62. Act while there is still low competition.
Location
Approximate location — exact address confirmed upon showing
Nearby Places
Neighbourhood profile (K2P)
This home lists at $2,100,000, about 31.6× the local median household income of $66,500.
Carrying it typically needs a household income of about $410,204 (20% down, 25-yr amortization, stress-tested) — roughly 517% above the area median.
- Median household income
- $66,500
- Population
- 18,825
- Median age
- 34.4
- Owner / renter
- 19% / 81%
- Avg. household size
- 1.5
Source: Statistics Canada, 2021 Census (FSA K2P)
Book a showing
Pick a time that suits you. A verified local agent confirms within 24h.
Buying this business?
Acquisition financing works differently from a property mortgage. Tell our partner brokers at iShopRates what you are buying and they will come back with options.
Ask about acquisition financing →
$2,100,000
Ottawa