Flip or Rental Opportunity in Old Ottawa East!! Assigned

  • $640,000
  • 3 beds
  • 1 baths
  • 1100-1499 sqft
Assigned

This property is a jewel in the rough, conveniently located in the eclectic, and redeveloping neighbourhood of Old Ottawa East!! It is located in a safe, and much sought-after residential area that borders many of the hippest neighbourhoods of town: three streets to the east is the Flora footbridge across the Rideau Canal to the Glebe; to the south is Old Ottawa South and Carleton University; to the east is the Ottawa Hospital and the Trainyards shopping plaza; and to the north is the University of Ottawa and the scenic downtown area. For this reason, the area is undergoing revitalization, making this one investment opportunity Investors will want to take advantage of!! To keep the home as it stands will require substantial cosmetic upgrading, but doing so will yield a promising profit. A more promising option, however, is that this property could be torn down or revamped for an extraordinarily strong ARV (Buyer to verify); a rebuilt house on the next block is currently listed for $1,699,000. Don’t miss this!!

We are selling our assignable purchase contract.

Closing is August 14th, 2021

PROPERTY FEATURES

  • 2-storeys (as per MPAC)
  • 3 bedrooms
  • 1 full bathroom (located on the second floor)
  • Built in 1903
  • Above grade: 1100-1499 sq ft (as per MPAC)
  • Partially finished basement: 400-699 sq ft (as per MPAC)
  • All appliances are included
  • Exposed plaster throughout the house is from previous projects that were never finished (as per Seller)
  • 200 AMP breaker panel
  • Gas furnace is owned, and is 12-years-old (as per Seller)
  • HWT is rented, exact age is unknown (as per Seller)
  • No central AC
  • Deck area in backyard will need to be replaced (as per Seller)
  • Storage shed located on the property
  • On municipal services
  • Roof is 15-years-old (as per Seller)
    • There were previous leaks from the roof that caused damage to the ceiling in the house (see HERE)
      • All of the leaks have been fixed externally, however the cosmetic work still needs to be done (as per Seller)
  • 2-3 car parking on driveway
  • Lot size: 33.00 ft x 99.00 ft (as per MPAC)
  • Zoning: Unassigned, R3P (as per MPAC)

PROPERTY NEEDS

  • Cosmetic updating
  • Back deck will need to be replaced
  • Possibility to tear down and rebuild (Buyer to verify)

 

Please click HERE for more pictures and information.

Price:
$640,000
Address:
Hazel St & Main St
Ottawa, ON
Square Feet:
1100-1499
Lot Size:
33.00 ft x 99.00 ft
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1903
Basement:
Partially finished

Call (647) 400-2093 for more details

Property Location