6599 Fourth Line Road
North Gower, Ontario K0A2T0
MLS #1087743

Residential Income
    $499,000
    Est. P&I payment: $1905.84/mo
    6599 Fourth Line Road, North Gower, Ontario K0A2T0
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    Description for 6599 Fourth Line Road, North Gower, Ontario K0A2T0
    8.24% CAP RATE when self-managed and maintained! This 6 unit RESIDENTIAL BUILDING on the MAIN STREET in North Gower - is 25 min from the heart of Ottawa, 15 min from Barrhaven. VERY RARE and VERY PROFITABLE. On well and Septic, so NO water/sewer bills! Septic tank is 20yrs old, pumped every 2 years (last pump 2017). Some small updates needed: Metal roof to be painted, small porch roof to be replaced. Currently only 2 of the 5 parking spaces are being used. Parkiing on both sides of the building. Lot is 65 ft wide x 97 ft deep. All units are LARGE 1-bedrm units, w/ flooring and random updates. All TENANTS on lease since 2017 and pay $675/month + heat and hydro. One unit is vacant for purpose of viewing and will rent for $675. Laundry is $1800/yr++. Gross income is $50,400/yr incl laundry and fully leased. Expenses - Hydro for common areas and laundry $1379 + Property taxes $4518 + Insurance $3475 = $9372/yr. Total Net Operating Income - $41,438/yr. (id:18819)
    MLS #1087743
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    My Notes for MLS #1087743

    General Features

    • Total Number Of Units: 6
    • Year Built: 1920
    • Levels: 2
    • Stories: 2

    Exterior Features

    • Total Parking: 5

    Utilities Features

    • Heating: Baseboard heaters
    • Heating Fuel: Electric
    • Sewer: Septic System

    Location

     
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    The listing information for 6599 Fourth Line Road, North Gower, Ontario K0A2T0 was graciously provided by our friends at the listing brokerage, RE/MAX HALLMARK REALTY GROUP

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    P&I Payment $1905.84
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    Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Realty Matrix, Brokerage's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Realty Matrix, Brokerage, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
    Last Updated 02/22/2018 at 12:52am
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