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Maxime Grondin

max.grondin@engelvoelkers.com +1(613) 324-2553

$ 1,600,000

Est. payment -/mo

Save

Active

218-220 MCARTHUR AVENUE Ottawa, ON K1L6P5

2 Beds

4 Baths

1,500 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,500 sqft

Price per Sqft $1,066

Subdivision 3404 - Vanier

MLS® Listing ID X12671512

Bedrooms 2

Property Description

ATTENTION BUILDERS & INVESTORS - SHOVEL READY 9 UNIT DEVELOPMENT Vanier, Ottawa. 220 McArthur Avenue represents a rare opportunity to acquire a fully entitled, shovel ready development site in one of Ottawa's fastest intensifying urban corridors. Ideally positioned steps from Vanier Parkway and McArthur Avenue, the site benefits from excellent transit connectivity, proximity to downtown, and strong longterm rental fundamentals. The property is offered at $1.6M as land with approvals, featuring a demolition permit issued and fully approved architectural plans for a 9 unit residential building. All utilities have been fully disconnected, allowing for an immediate and efficient start to redevelopment. Estimated Project Economics (Upon Completion) Approximate Gross Monthly Rental Income: $20,600, Approximate Gross Annual Rental Income: $247,200, Estimated Stabilized Net Operating Income (NOI): ~$181,764 Capitalization Rate Applied: 5.50% Estimated Stabilized Value: ~$3.3M. A future value appraisal has been completed by an AACI designated appraiser, with valuation conclusions based on the above stabilized income assumptions, subject to construction in accordance with the approved plans. Preliminary construction cost guidance suggests approximately $1.8M, subject to final contractor pricing, scope confirmation, and purchaser due diligence. To obtain the final release of approved plans from the City, a known and fully disclosed municipal payment of approximately $95,000 remains outstanding.The project is eligible for CMHC MLI Select financing, offering the potential for below prime interest rates and amortization periods of up to 50 years, significantly enhancing leverage, cash flow, and long term return potential, subject to CMHC and lender approval. NDA required prior to the release of architectural drawings, appraisal materials, supporting documentation, or the scheduling of site visits (id:24570)

Location

Province ON

Rooms

Kitchen 4.0

Extra Room 1 Second level 3.5 m X 3 m Bedroom 2

Extra Room 2 Second level 3.5 m X 3 m Living room

Extra Room 3 Second level 1.8 m X 1.5 m Bathroom

Extra Room 4 Second level 2.5 m X 2 m Kitchen

Extra Room 5 Second level 2.5 m X 2.5 m Kitchen

Extra Room 6 Second level 3.5 m X 3 m Living room

Interior

Heating Forced air, Heat Pump, Not known, Not known

Cooling Central air conditioning

Exterior

Parking Features No

View Y/N No

Total Parking Spaces 5

Private Pool No

Building

Story 2

Sewer Sanitary sewer

Listed by ROYAL LEPAGE INTEGRITY REALTY

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Maxime Grondin

Salesperson

+1(613) 324-2553

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