8 Potvin Street Bourget, Ontario K0A 1E0

$449,000

Fully occupied 6 unit purpose-built rental property located in the lovely town of Bourget about a thirty-minute drive East of Ottawa. Zoning is grandfathered to permit the property to continue operating as a 6-plex. All units are one bedroom with one bathroom. Bathrooms have been updated within the last few years. Rent is on a gross basis with all utilities included. The property is projected to generate gross revenue of $41,580 in 2022. The net revenue is projected to be $21,210 in 2022. The property is self-managed and maintained. The valuation has been established using a 4% cap rate after deducting a 5% vacancy contingency. This is a value add investment opportunity. The next owner can increase the net revenue by installing separate hydro meters and water submeters, turning over tenants and updating the unit interiors to increase rent. The natural gas furnace is approximately 5-years old. Storage sheds are included, with the exception of one storage unit owned by a tenant. (id:39544)

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https://www.realtor.ca/real-estate/24396321/8-potvin-street-bourget-bourget