Ottawa area 24-plex Apartment building & commercial, new roof, retrofitted,$625000 CAD or $53900

Photos and contact info at
Price: $625,000 CDN. Proforma 17%+ Cap rate. Located in downtown Smiths
Falls, Ontario, Canada. 45 mins drive to Ottawa. Smiths Falls is the
chocolate capital of East Canada and a popular tourist destination.
Walk to all amenities and businesses. Over 21,000 square foot interior
space. Currently 13 apartments (own kitchen, bathrm), one large
commercial tenant (bar & grill), one additional commercial space, 1
office and 8 single residential units (share bathrooms and common
areas), and numerous storage rooms. Always well rented. Excellent
return. Masonary structure. New roof ($30K) in Dec 2003. Building was
completely fire retrofitted in 2005 (over $80K) and had numerous
improvements. High ceiling between the floors, large room windows, wide
stairs, mosaic windows, beautiful antique modelings. Full size full
height basement. Advanced alarm system thoughout the building.
Superinterdent on site, and property management company available for
absentee landlord. Recognized for its architect beauty. Lots of
potential. Can easily reverted to a resort hotel or retirement place.
Property management company next to the building for absentee landlord.

Website and Contact Info:

Re: Ottawa area 24-plex Apartment building & commercial, new roof,retrofitted,$625000 CAD or $53

Isn't that the building with the crumbling
foundation, and the radon gas problem?

building priced to sell! wrote:
> Photos and contact info at
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Re: Ottawa area 24-plex Apartment building & commercial, new roof, retrofitted,$625000 CAD or $5

No, it was actually the building with the environmental issues. They
had the oil tank rupture and creep under the neighbouring property.
$$$ to remove. I think they are asking too much. I spoke with Fred
about this and he says he knows it is over priced, but that is what the
owner wants.