Monica Flores

SALES REPRESENTATIVE

276 POWELL AVENUE
Ottawa, Ontario K1S2A5

$1,899,900

ID# 1374601
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:25961)

LEARN MORE ABOUT THIS LISTING

CALL MONICA DIRECT AT

613-725-4121

Courtesy of SUTTON GROUP - OTTAWA REALTY

Listed on: February 29, 2024

On market: 75 days
Year Built 1922
Cooling Type Central air conditioning, Air exchanger
Flooring Type Laminate, Tile, Other
Heating Type Forced air, Other
Heating Fuel Natural gas
Stories Total 3
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49 OAKRIDGE BOULEVARD Ottawa
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Monica flores

SALES REPRESENTATIVE

Direct: 613-725-4121

mflores@royallepage.ca

Royal LePage Team Realty

1723 Carling Ave,

Ottawa, ON K2A 1C8

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