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276 Powell Avenue Ottawa, Ontario K1S 2A5

Central Air Conditioning, Air Exchanger Forced Air, Other


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)

Property Details

MLS® Number 1374601
Property Type Multi-family
Neigbourhood Glebe
Amenities Near By Public Transit, Recreation Nearby, Shopping
Features Balcony
Parking Space Total 4
Storage Type Storage Shed
Structure Deck, Patio(s), Porch


Amenities Furnished
Appliances Blinds
Basement Development Finished
Basement Type Full (finished)
Constructed Date 1922
Construction Material Wood Frame
Construction Style Attachment Attached
Cooling Type Central Air Conditioning, Air Exchanger
Exterior Finish Brick, Vinyl
Flooring Type Laminate, Tile, Other
Foundation Type Block, Poured Concrete
Heating Fuel Natural Gas
Heating Type Forced Air, Other
Stories Total 3
Type Triplex
Utility Water Municipal Water




Acreage No
Land Amenities Public Transit, Recreation Nearby, Shopping
Sewer Municipal Sewage System
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


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