Lowertown- Byward Market

59-61 Parent Avenue
3 900 000$

Property description

- Revenue $348,400.00 per year / Expense $131,455.00 per year
- Net operating income $216945 per year (based on actual and projected, revenues and expenses)
- 1959 Construction – Designed for young interns at Bruyère Hospital
- Owned and operated by Sisters of Charity since 1974 as a girl's residence
- Zoning R4s “Mature neighbourhood overlay”
- “Legally non-conforming Rooming House”
- Lot area 6,615 square feet
- Building is 11,000 square feet above grade plus 3700 square feet in lower level
- April 2018 Building Inspection on file
- May 2018 Appraisal Report on file
- Windows 2016 / Hot Water Tank (holding) 2017 / Boiler 2006 / Roof (older)
- 2005 Survey on file
- Parking for approximately 7 cars
- Completely furnished
- Lower: common room / kitchen / mechanical / storage rooms
- 1st floor: 17 rooms (same floor plan as floor 2 & 3) occupied by the nuns; used as offices, private lounge, kitchen, dining room, bedrooms
- 2nd & 3rd floor: 17 rooms / floor (11' x 9' average size), each room has a sink 2 rooms not rented – kept as guest rooms $30/night. separate shower room and W.C.s
- A total of 45-50 rentable rooms on upper floors ($550/month/rm) and possible 5 in the lower level ($500/month/rm)– Estimated $327,000.00 per annum income.

Features of this home!
Purpose built in 1959 as a residence for young interns at the old General Hospital. Meticulously maintained and upgraded by the longtime current owners. A fantastic opportunity to own a one of a kind Urban Ottawa investment property which is easily manageable and in tip top shape. 50 rentable rooms. Shared bathrooms on each floor. Common kitchen and dining hall as well as living area. Perfect set up to have a resident manager. Has been rented as a girl only student residence for many many years. Full, detailed building inspection report on file (April 2018) as well as current independent appraisal (May 2018).

Property details

Total Bedrooms	50
Total Bathrooms	3
Age	1959/ Approx
Legal	Pt Lot 10 Plan 42482

Rooms

Rooms	Level	Dimensions*
Bedroom 2	2	22' x 9'
Bedroom 3	2	11' x 9'

* All dimensions are in feet.

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