378 Enfield Avenue Ottawa, Ontario K1L 7L3

$700,000

Welcome to 378 Enfield - a true cash-cow investment property with absolutely positive cash flow! CAP RATE: 7.50% Located in an R2L zoning area, this property is legally approved as a rooming house with up to 7 bedrooms and also offers exceptional development potential. With further design, it can be redeveloped into a multi-unit apartment building from 6 units. Currently generating a gross monthly income of approximately $5,500, detailed cashflow and expense form ready for reference for serious buyer. This property is fully managed by a powerful professional property manager that has been handling all day-to-day operations smoothly - zero hassles for the owner. The main floor features 4 bedrooms, 2 bathrooms, a spacious kitchen, laundry room, and a bright living area. The basement includes 3 additional bedrooms, 2 bathrooms, and a full kitchen, ideal for flexible rental arrangements. Completely renovated in 2023, the home showcases upgraded plumbing, electrical, and HVAC systems, along with new insulation, fresh paint, and brand-new windows and doors throughout. Walking distance to Green & Fresh, Loblaws supermarket, Bus stations, RCMP headquarter, Canadian Cyber security center, around 2km to Ottawa University and one bus to Carleton University and surrounded by lots other amenities. This turnkey investment has been successfully operating for the past two years - a rare opportunity to own a high-performing, low-maintenance property with strong cash flow and future development upside! (id:37351)

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https://www.realtor.ca/real-estate/29018998/378-enfield-avenue-ottawa-3404-vanier