1429 MEADOW DRIVE, Ottawa, Ontario, K4P1B1

Property Description

Incredible Investment Opportunity! This beautifully renovated, fully tenanted income property offers multiple revenue streams on a sprawling 1.09-acre lot in the heart of Greely. Boasting VM-3 zoning, this versatile property provides endless potential for investors. The main house features two beautifully updated residential units: Unit A: A spacious 4-bedroom, 1.5-bath unit with soaring 10-ft ceilings in the living room, generating $2,850/month. Unit B: A cozy 1-bedroom, 1-bath unit, bringing in $1,800/month. Additional income sources include: Insulated 2-bay garage: Renting for $1,431/month. Commercial-grade, fully insulated Quonset hut: Featuring 1,800 sq. ft. of warehouse space with two man doors and two garage doors, 200 amp panel, leased at $2,375/month + propane. Cap Rate of 7.68%%, this property is both a stable and high- potential addition to any investment portfolio. Cash flow of about $2,040/mth. 1.51 DSCR. ROI over 19.55%. The huge fenced lot, bordered by a creek, offers beautiful landscaping, ornamental trees, perennial gardens, and plenty of space for vegetable gardens, play structures, or pets. Located just 16 minutes from the Ottawa International Airport and 7 minutes from Findlay Creeks shopping district, this property is conveniently close to schools, parks, the library, grocery stores, and the post office. Steeped in history, the "Old Post" has served as a post office, country store, and village center for over a century. Whether you're looking to expand your investment portfolio or explore new business opportunities, this rare find is not to be missed! Village Mixed-Use (VM3) zoning allows for residential and non-residential uses including: community centre, day care, food production, municipal service centre, personal service business, restaurant and retail store. Call today for more details or to book a viewing! (id:64974)

Quick Facts

• Property Type: Duplex
• Bedrooms: 5 (5 above)
• Bathrooms: 3
• Attached: Yes
• Parking: 8 spaces (Detached Garage, Garage)
• Frontage: 185 ft (56.4 m)

Costs

• Annual Taxes: $4,651.71

Listing Provided by: EXIT REALTY MATRIX
Board: Ottawa Real Estate Board
Data provided via CREA DDF®.