295 ST. ANDREW STREET

4002 - Lower Town Ottawa K1N 5G8

Fantastic investment opportunity in the heart of Ottawa's historic Lowertown. This fully turnkey triplex is ideally situated just steps from the ByWard Market and the University of Ottawa, offering strong rental demand and consistent cash flow. Generating nearly $6,000 in monthly income when fully rented, with annual expenses of approximately $13,000 and an impressive $71,000 in annual gross income, this property delivers exceptional returns. Each unit features in-unit laundry, modern updates, and a well-maintained layout ideal for both tenants and long-term investors. The 2nd floor unit offers refinished hardwood floors, a new kitchen, and a renovated bathroom, along with a private balcony. The main floor features three spacious bedrooms and a full bath, while the lower-level unit includes one bedroom plus an additional office or den and a full bathroom. The lower unit is currently vacant, offering an immediate opportunity to rent at market value and further maximize income. Major improvements include a rooftop patio and new roof (2021), exterior cladding (2014), and windows (2011), ensuring minimal maintenance for years to come. The property also includes one dedicated parking spot, plus additional street parking available year-round (excluding winter months). Located in one of Ottawa's most desirable downtown neighbourhoods, close to transit, dining, shopping, and major institutions, this property stands out as a reliable income generator with strong appreciation potential. (id:2493)