Ottawa Real Estate Investors Organization

Yes – they do !

I know you are all about the numbers, as investments should be, first however let me paint the picture of what you will be considering.

The property is a 6-plex, 2-storey building containing an apartment mix with outstanding flexibility:
• 1 x Bachelor
• 2 x One-Bedroom
• 1 x Two-Bedroom
• 2 x Three-Bedroom

The current tenant mix consists of young professionals & students (treat them well and they will stay with you for the duration of their studies – and allow you stability with projected turn-over, keeping the rents always at market level).

For tenants’ convenience, each apartment has control over the heat (individual natural gas furnace), electrical panel (total of 6 meters), and hot-water (4 apartments have their own water tanks, 2 apartments share the tank with laundry facility – on-site obviously !!). This allows the tenants to regulate and control their own environment for a worry-free stay (for you).

The property is benefitting from a number of projects in the area including the LeBreton Flats redevelopment / Canadian War Museum opening and the Preston Street (Little Italy) revitalization project driven by the City of Ottawa. As part of the projects Ottawa has recently completed updating the water and sewer lines in the area (and resurfaced the road) in 2004.

New businesses, restaurants, retail, and night-life opportunities are opening or revitalizing their offerings – attracting attention to the area. Over the past few years houses in the area have changed ownership and been upgraded with a definite pride of ownership showing.

“ The Preston Street Revitalization Project is almost complete! In the Spring of 2010 we will be finishing up the landscaping and installing decorative pavers. The City has told us that this work will be completed by Italian Week, June 18-20th!” www.prestonstreet.com

The building is near large bus routes for easy access to down-town, while located on a quiet side street. Of course, if you tenants prefer, they can simply walk to Dow’s Lake and enjoy walking & the water sports in the summer or the world-renown 7km skating canal in the winter !!

Ok, ok … here are the numbers …

Financial information:

Rental Income: $ 5,772 / month ($ 69,264 / year)
Laundry income: $ 70 / month ($ 845 / year)
Total Income: $ 70,109 / year

Property Taxes: $ 6,687
Insurance: $ 2,359
Water / Sewer: $ 1,498
Heat: $ 2,145 (4 larger units pay own heat)
Hydro: $ 935 (5 units pay own hydro)
Maintenance: $ 2,778
Total Expenses: $ 16,403 / year

Net Operating Income $ 53,706 / year
Cap Rate for area / building: 7.0 %

Sale Price: $ 767,200

Now it’s up to you … investing is about preparation & action. OREIO has prepared you – it’s up to you to act and take the next step. If you like what you read – send us your offer.

Cheers ...

Claudio Gambetti
Awesome6plex4sale@yahoo.ca