The Property
THE DETAILS
Redevelopment opportunity in a dynamically changing transit oriented location. This site offers flexibility and an exciting opportunity to craft a residential development project in an up and coming area, with the Cyrville LRT station acting as a primary growth driver.
Address: 1368 Labrie Avenue, Ottawa, Ontario
Lot Size: 100 x 150
Lot Area: approx. 15,000 sq ft
Property Type: Triplex, Parking & Office
Zoning: TD1[2775]-h City of Ottawa Letter of Final Approval
Neighborhood: Ottawa East, Beacon Hill-Cyrville Ward (click link for details)
Sale Type: Owner Operator, Developer, or Investor
Site Profile: Redevelopment Opportunity (click link for details)
Number of Rental Units: Three 2-bed Units
Office Building: Approx 250sf + washroom
Storage Shed: 2 Outdoor Storage Units
Parking:
- 25 Fenced Yard
- 8 Tenant
Units Details: (Click links for details)
MLS Listing: 1368 Labrie Avenue click to follow link
CASH FLOW ANALYSIS
This property has potential normalized cash flow of 61k from five income-generating units; Mixed-use with commercial/residential. Three 2-bed apartments, 1 separate office building and large fenced storage yard. Main building has plenty of surface parking for all tenants.
Notes:
- Lower Unit is vacant as it was fully renovated June 2024.
- Office building is included in the rent for Unit 3 – Upper.
- Each unit has a minimum of 2 surface parking spaces included.
- Fenced Rear Storage Yard is vacant – was leased in 2022 for $1350/month.
- All tenants are past 1 year occupancy.
- Expected rent increase is October 2024 for all units 2.5%.
- Fenced Storage Yard can accommodate approximately 25 parking spaces.
- Surface parking around building includes 2 spaces in the back, 5 on the side and 2 at front of building.