80 Fifth Avenue - Ottawa, Ontario - The Glebe - 3 Unit Income
Exceptional income property in lovely condition. Presently used as owner live-in on two floors this property is easily converted back to straight income. Super basement flat with two bedrooms and a private entrance. Third floor is another two bedroom with terrace. Presently rented at $1,100 per month and nicely renovated. A stunning Victorian entrance invites you into the main floor and second floor. Beautiful trim, high ceilings and wood floors as well as original fireplaces. The main floor would need a wall added to provide a bedroom suite but easily done and it would be a gorgeous one bedroom executive apartment. Second floor is ready to go with a two bedroom, huge kitchen, laundry and separate living room and dining room. There is four car parking, three spaces at rear and one in the driveway - rear lane is owned by twelve people and 80 Fifth has 1/12 of ownership. If converted to three or four units, rent could be (based on conservative figures and existing rents) approximately $61,200 a year. Expenses just around $14,000. Each apartment is separately metered. Modernized, lots of pride of ownership, and updated throughout.