276 Powell Avenue Ottawa, Ontario K1S 2A5
$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:36465)
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
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May 11 2024 12:12:37
Ottawa Real Estate Board
Sutton Group - Ottawa Realty
Brent McElheran, Broker of Record Royal LePage Team Realty
McElheran & Associates
Phone: 613.725.1171 | Toll free: 1.800.307.1545 | Email: mail@brentmcelheran.com
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