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CAONVanier218-220 Mcarthur Ave
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218-220 Mcarthur Ave, Vanier, ON

House

For Sale

$X
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245

MLS® X12671512

Overview

Key Facts

Type Quadruplex
Levels Residential
Size -
Garage None
Taxes $3,743
Days Active 145
Lot Size 
Approx. Age 
MLS® Number X12671512

Property Address: 218-220 Mcarthur Ave, Vanier, ON, K1L6P5

Average square foot calculated using Size range provided by listing agent.

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 visitsShow Description
MLS® NumberX12671512
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNone
Approx. Age
BasementCrawl Space
DrivewayGarage Type:None
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Rooms

Show Details
Bedroom 2:Second Floor9.84 × 11.48 ft

Home Estimate Zoopraisal®

This property is estimated to sell between: $762,000 and $2,019,000.
Similar properties in this area sold on average for: $762,484
Expected to sell very soon! Similar properties sold in 46 days. This home has been on Zoocasa for 145 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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