Financial Breakdown:
GOI - $16,458.08 Monthly/$197,497 Annually
TOE - $4,712.17 Monthly/$56,546 Annually
NOI - $11,581.34 Monthly/$138,976 Annually
CAP - 5.45%
Read the full breakdown, attached as a PDF at the bottom of the page.
Introducing 70 Russell Avenue—a premier investment opportunity in the heart of Ottawa's historic Sandy Hill neighbourhood. This newly constructed, four-story building is meticulously designed to meet the demands of demands of today's tenants, ensuring a consistent and lucrative rental income for discerning investors.
Property Highlights:
Modern Design: The building's contemporary exterior features clean lines and high-quality materials, making it a standout property in the area.
Spacious Units: The first three floors each house expansive five-bedroom units, while the top floor boasts a unique two-story suite with a sixth bedroom on the upper level, offering versatility and appeal to a broad tenant base.
Premium Interiors: Each unit is thoughtfully designed with durable vinyl flooring, pristine white walls, and large windows that flood the space with natural light. The modern kitchens are equipped with ample counter space and cabinetry, catering to the needs of of higher-quality tenants. Additionally, each unit includes two full bathrooms with showers and in-unit laundry facilities, providing convenience and comfort.
Prime Location:
Situated just a 2-3 minute walk from the University of Ottawa, 70 Russell Avenue offers unparalleled proximity to campus, making it highly attractive to students seeking convenient housing options. Sandy Hill is a vibrant and diverse neighbourhood, rich in history and culture. Once Ottawa's wealthiest residential area, it is now a dynamic community that blends historic charm with modern amenities. The neighbourhood is home to numerous embassies, parks, and cultural institutions, providing a rich living experience for residents.
Investment Potential:
The strategic location and high-quality construction of 70 Russell Avenue ensure a steady demand from university students, young professionals and tenants alike, guaranteeing full occupancy year after year. The property's modern amenities and proximity to campus make it a preferred choice among students, ensuring a reliable and substantial rental income.
Neighbourhood Amenities:
Sandy Hill offers a plethora of amenities that enhance the living experience for tenants:
Dining and Entertainment: The neighbourhood boasts a variety of restaurants, cafes, and bars, catering to diverse tastes and preferences. Notable establishments include Café Nostalgica, known for its vibrant atmosphere and live music events.
Parks and Recreation: Residents can enjoy the lush green spaces of Strathcona Park, which offers scenic views of the Rideau River and hosts various cultural events throughout the year.
Transportation:
The property's central location offers excellent connectivity:
Public Transit: Multiple bus routes and nearby O-Train stations provide easy access to the rest of the city.
Walkability: With a high walkability score, residents can easily access daily necessities, entertainment, and educational institutions on foot.
70 Russell Avenue represents a rare opportunity to acquire a premium, purpose-built student housing property in one of Ottawa's most sought-after neighbourhoods. Its modern design, prime location, and consistent rental demand make it an exceptional addition to any investment portfolio. Seize the chance to invest in a property that promises not only substantial returns but also contributes to the vibrant community of Sandy Hill.
For more information or to schedule a private showing, contact Reed Allen (salesperson at RE/MAX Hallmark Realty Group LDT.) by email Reed@NewPurveyors.com or fill out the form below.
