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123-125 Pamilla Street Ottawa, Ontario K1S 3K9

None Baseboard Heaters, Forced Air

$1,999,888

Cash flow now, develop any time! Extremely rare opportunity to own two side-by-side properties adding up to a 50x100 land assembly in the heart of Little Italy, right off of Preston Street. With R4 zoning this land assemblys highest and best use is a future low-rise apartment building between 12 and 20 units. This assembly already meets frontage and lot area requirements for low-rise development. Why purchase land producing zero income while waiting to develop? Cash flow these high-producing units until the time is right to break ground, whether your timeline is 12 months from now or 12 years. 123 Pamilla has four self-contained rental units 3 short-term rentals, 1 long-term; total $8,126/month incl. coin-op laundry. 125 Pamilla is a 5-bedroom single family home rented by the room - 4 long-term, 1 short-term; total $3596/month. Gross operating income over $140,000. Net income approximately $119,000. (id:36465)

Property Details

MLS® Number 1269803
Property Type Multi-family
Neigbourhood Little Italy
Parking Space Total 7

Building

Constructed Date 1900
Cooling Type None
Exterior Finish Brick, Siding, Stucco
Foundation Type Stone
Heating Fuel Natural Gas, Electric
Heating Type Baseboard Heaters, Forced Air
Stories Total 3
Utility Water Municipal Water

Land

Acreage No
Sewer Municipal Sewage System
Size Depth 100 Ft
Size Frontage 50 Ft
Size Irregular 0.11
Size Total 0.11 Ac
Size Total Text 0.11 Ac
Zoning Description R4ud

https://www.realtor.ca/real-estate/23800529/123-125-pamilla-street-ottawa-little-italy

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