Active
276 POWELL AVENUE
Ottawa Ontario, K1S2A5
$1,899,900
Active
Residential
Built in 1922
Courtesy of SUTTON GROUP - OTTAWA REALTY
6.1% cap rate with gross annual revenue over $200K and NOI of $115K - including property management and operating expenses. Rare opportunity to own one of the City's only Dedicated Short-Term Rental (STR) properties. This property is not subject to the City's principal residence requirement for STR (Airbnb). Classified as a "legally non-conforming hotel" with a City of Ottawa Host Permit in place. The property is zoned TM (Commercial/Mixed Use). Excellent cash flow and growth potential with limited competition for short-term rental guests in the Glebe. The current use is grandfathered and can be continued by a new owner. This property was torn down to the studs and completely rebuilt as a legal triplex. Each unit has a completely independent heating system with separate forced-air furnaces and AC units for the 2-bdrm main floor and 3-bdrm upper unit. The 2-bdrm basement unit, with full-height ceiling, has in-floor, hydronic heating throughout. Summer STR revenue will be HOT! Act Now! (id:41202)
1374601
MLSⓇ ID
February 29, 2024
Listed
May 16, 2024
Updated
Map
276 POWELL AVENUE
Ottawa Ontario, K1S2A5
Interior Features
Total Stories
3
Floor Description
Laminate, Tile, Other
Fireplace
No
Cooling
Yes
Cooling Description
Central air conditioning, Air exchanger
Heating
Yes
Heating Description
Forced air, Other, Natural gas,
Exterior/Building Features
Sewer
Municipal sewage system
Other Property Details
Garage
No
Parking Total
4
View
No
Pool
No
Courtesy of SUTTON GROUP - OTTAWA REALTY, Frank Andree,
Listing Contact: (613) 867-6907
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