Two Income Generating Legal Duplexes Side-By-Side in the Hot Vanier Market!! Assigned

  • $890,000
 Here is your chance to invest in one, or TWO duplexes in Vanier!! This property is conveniently located close to transit, the Vanier parkway, and only 11 minutes to downtown Ottawa!
Ethel St is a legal duplex, which only requires cosmetic updating and currently has one vacant unit. Baribeau St is also a legal duplex, with an additional in-law suite in the basement (3 units total). This property requires some interior and exterior cosmetic updates, and currently has all three units rented out. Don’t miss out on your chance to purchase these income properties!! 
We are selling our assignable purchase contract.Closing is March 3rd, 2021.*Both properties must close on March 3rd, 2021.*
**The tenants of both properties must be assumed upon closing, please visit each individual ad for details on occupancies.**

Click HERE for the full ETHEL ad.

Click HERE for the full Baribeau ad.

Click HERE for more information on what can be done with these properties.

 

Price:
$890,000
Address:
Ethel Street & Baribeau Street
Vanier, ON
Terms:
Assignment of Contract
Property Type:
Duplex

Additional Features

ETHEL -- PROPERTY FEATURES Legal duplex 6 bedrooms 2 full bathrooms Built in 1950 Above grade: 700-1,099 sq ft (as per MPAC) Finished basement: 700-1,099 sq ft (as per MPAC) 2 separate entrances 2 hydro meters Two 200 AMP breaker panels One of the panels has been more recently updated (as per Seller) Hot water tank (age is unknown, as per Seller) Electric baseboard heating No central AC Windows are older (as per Seller) Roof is approximately 10-years-old (as per Seller) 3 + parking spaces in the driveway Lot size: 37 ft x 95 ft Zoning: R4UA UNIT BREAKDOWN Upper Unit 3 bedrooms 1 full bathroom Ensuite laundry Large, eat-in kitchen Flooring is carpet, vinyl, and hardwood This unit is currently tenanted, and they are on a month-to-month lease. The current rent is $1,308/month + hydro. (Buyer must assume the tenant) Lower Unit 2 bedrooms Currently has 2 bedrooms, but could be reconfigured to have 3 bedrooms 1 full bathroom Ensuite laundry Flooring is carpet and vinyl (some flooring has recently been replaced, as per Seller) This unit is vacant. After cosmetic renovations the investor will be able to rent out the property for top market rent PROPERTY NEEDS Cosmetic updating throughout Windows are older The parging could be patched on stairs to the basement Please see main ad on details of what can be done with this property BARIBEAU --- PROPERTY FEATURES Legal duplex + a 3rd unit 6 bedrooms 3 full bathrooms Built in 1952 Above grade: 1,500-1,999 sq ft (as per MPAC) Finished basement: 700-1,099 sq ft (as per MPAC) 3 separate entrances Flooring is vinyl, tile and laminate 3 hydro meters 200 AMP breaker panel Natural gas water boiler (age unknown, as per Seller) Main heat source Electric baseboard heating only in parts of the basement Secondary heat source No central AC Windows are older and some should be replaced (as per Seller) Roof is approximately 10-years-old (as per Seller) Attached, 1-car garage 4 parking spaces in the driveway Lot size: 44 ft x 95 ft Zoning: R4UA UNIT BREAKDOWN Upper unit 2 bedrooms 1 full bathroom Clean apartment with no obvious repairs required Ensuite laundry This unit is occupied and the tenant pays $1,277.50/month + hydro. The tenant will need to be assumed by the Buyer upon closing. Main Unit 2 bedrooms 1 full bathroom The Seller described the apartment as clean, but cluttered. To our knowledge, the tenant has not made any complaints about the unit needing to be repaired. This unit is occupied and the tenant pays $914/month + hydro. The Buyer must assume the tenant upon closing. Please note: there are currently no photos of this unit as the tenants were not home while we visited the property. Basement unit (we believe this is not a legal unit) 2 bedrooms 1 full bathroom Ensuite laundry This unit requires cosmetic updating and the basement stairs will require work. There is a crack between the house and the stairs. This unit is currently occupied and the tenant pays $914.69. The Landlord pays gas and hydro. The Buyer must assume the tenant upon closing. Please note: the Landlord pays for the water and sewer bills for all three units. The average cost is $313/bi-monthly. PROPERTY NEEDS Minor cosmetic updating There is a crack in the foundation between the garage and the house, the garage will either need to be knocked down, or fixed back to the wall of the house (please see HERE). There is a small orange shed in the back that belongs to the tenants and will not be included in the sale. Please see main ad on details of what can be done with this property

Call (647) 400-2093 for more details

Property Location