388-390 Chapel Street Ottawa, Ontario K1N 7Z6

$3,509,000

Outstanding investment opportunity in the heart of Sandy Hill, just steps from the University of Ottawa. 388-390 Chapel consists of two fully renovated triplexes built in identical style from the ground up. Each building offers a 5-bedroom, 2-bathroom unit on the main level, a 3-bedroom, 1-bathroom unit on the second floor, and a 4-bedroom, 1-bathroom unit on the third floor. All units are furnished and operated on an all-inclusive rental model, making them highly attractive to students and young professionals while minimizing vacancy risk. The property produces a gross annual income of $266,952 and a Net Operating Income of $192,956, translating into a solid 5.5% cap rate. With upgraded infrastructure, modern finishes, and efficient building systems, the asset is positioned for long-term stability with reduced operating costs. The location further strengthens the investment case, boasting a 90 Walk Score, 80 Transit Score, and 94 Bike Score, ensuring tenants have immediate access to campus, the ByWard Market, cafés, restaurants, shopping, and everyday amenities. For investors seeking a turnkey, high-performing property in one of Ottawas most established rental markets, 388-390 Chapel delivers strong current income, desirable location, and long-term appreciation potential. (id:37351)

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https://www.realtor.ca/real-estate/28858551/388-390-chapel-street-ottawa-4004-sandy-hill