LOCATION, LOCATION, LOCATION!!!

1592 Tenth Line Road, an exceptional real estate opportunity in the Orleans neighborhood of Ottawa. This strategically located development lot offers immense potential for investors & developers seeking to create a thriving multi-residential community. The property is perfectly positioned for the construction of 27 one-bedroom units across two buildings, with underground parking. The existing fourplex on the property, with three of its units currently tenanted, provides immediate income.

Included Documentation:

Included in the sale of this property are crucial documents to facilitate your development plans:

Conceptual Architectural Plans
Survey Plan
Topographical Plan
Noise Study
Civil Plan
Environmental Assessment Phase 1
Geo-technical Report
Landscaping Plan
TCR Report
Lighting Plan
Planning Rationale and Design Brief
Site Plan Control

Remaining Items:

Development Charges
The cash in lieu Parkland
Demo Permit and associated disconnect fees
Final Building Plans

Prime Location:

One of the most compelling aspects of this property is its prime location in Orleans. It is conveniently situated near essential amenities, making it an attractive option for future residents:

Grocery Shopping: Just across the street!! Residents will have access to various stores, ensuring convenience for their daily shopping needs.

Schools: Quality education is within easy reach, with schools in the vicinity catering to all age groups, from elementary to secondary education.

Ray Friel Recreation Complex: Enriching the quality of life for future residents, the renowned Ray Friel Recreation Complex is nearby, offering a wide range of recreational facilities, including a pool, fitness center, sports courts, and more. This complex provides opportunities for active and healthy living right at your doorstep.

Current Fourplex:

Income

Rent: $53,996.16 ($4499.68) per month from 3 units ($1379; $1398; $1722.58)

Expenses

Property taxes: $5657
Insurance: $4500
Electricity $2500: (common areas and basement)
Water: $1611
Lawn: $627
Snow: $900

NOI $38,201.16

Tenants pay for their own heat and hydro.

Asking Price: $1,512,000
MLS#: 1393702

Edmundo Roa
Sales Representative
Capital Homes Team
eXp Realty Inc.
[email protected]
Tel: 1866-530-7737
Cell: 613-864-5515