138 King George Street

Introducing a remarkable investment opportunity in the heart of Ottawa, this well-maintained multiplex, known as a Multi-Family Home for sale in Ottawa , is situated at 138 King George Street, Ottawa. This property boasts a prime location in the desirable Overbrook/Castle Heights community, making it an attractive choice for potential investors or homeowners alike.

The building is a two-storey structure featuring a combination of brick and vinyl siding, which not only adds to its aesthetic appeal but also ensures durability. With a total of eight rooms, including four bedrooms and two dens, this Multi-Family Home for sale in Ottawa provides ample space for families or tenants. The property comprises two fully equipped kitchens, allowing for convenient meal preparation, and six bathrooms, which is particularly advantageous for larger households or multiple tenants.

While the property does not feature a family room, fireplace, or central vacuum system, it compensates with its generous layout and practical amenities. The absence of a pool may be noted, but the appeal of this Multi-Family Home for sale in Ottawa lies in its versatility and location. The central air conditioning system ensures comfort throughout the seasons, and the property is connected to municipal water and sewer services, providing peace of mind to residents.

The total lot size measures 32 by 85 feet, offering a manageable outdoor space without the burden of excessive maintenance. Additionally, the property includes two designated parking spaces, which is a significant advantage in urban settings where parking can often be a challenge. It is important to note that there is no garage or driveway associated with this property, but the available parking should suffice for residents and their guests.

The financial aspects of this investment are equally compelling. The total gross operating income (GOI) is an impressive £57,360, with operating expenses amounting to £10,978, resulting in a net operating income (NOI) of £46,382. This financial performance underscores the potential of this Multi-Family Home for sale in Ottawa as a lucrative addition to any real estate portfolio.

Located just minutes from Highway 417, residents will enjoy easy access to downtown Ottawa and beyond. The St. Laurent Shopping Centre, one of the city's major retail destinations, is a short drive away, providing a plethora of shopping, dining, and entertainment options. For those who appreciate the outdoors, the scenic Rideau River is nearby, featuring parks and walking or cycling paths that enhance the living experience in this vibrant community.

In summary, this property at 138 King George Street, Ottawa, presents an excellent opportunity for those seeking a Multi-Family Home for sale in Ottawa. With its well-maintained structure, ample living space, and prime location, it is perfectly suited for both investors and families looking for a spacious home in a thriving area. The combination of urban convenience and natural beauty makes this property a standout choice.

Whether you are looking to expand your real estate investments or seeking a new home, this Multi-Family Home for sale in Ottawa at 138 King George Street, Ottawa, is worth considering. With its strong financial performance and desirable location, it is an opportunity not to be missed. Embrace the potential of this property and make it your own today!

Overbrook/Castle Heights is a charming and vibrant neighbourhood located in the eastern part of Ottawa, offering a delightful blend of urban convenience and suburban tranquillity. Characterised by its tree-lined streets and well-maintained parks, the area provides a welcoming atmosphere for families and individuals alike. Residents enjoy easy access to local amenities, including shops, schools, and recreational facilities, while the proximity to the Rideau River and various green spaces invites outdoor activities. With a strong sense of community spirit and a diverse population, Overbrook/Castle Heights is an appealing choice for those seeking a balanced lifestyle in Canada’s capital city.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an ideal choice for families. The closest elementary school is Robert E. Wilson Public School, just 1.1 km away, offering grades JK to 6 with a solid rating of 4. St. Michael School, a Catholic institution, is even closer at 0.9 km, providing education in English for grades JK to 6, although it has a lower rating of 3.3. Queen Elizabeth Public School, located 1.9 km away, serves grades JK to 8 and has a rating of 3.9. For older students, Lisgar Collegiate Institute, a secondary school rated 7.9, is just 2.3 km from the property, catering to grades 9 to 12. Additionally, Elgin Street Public School and Vincent Massey Public School offer French-language education for younger students, with ratings of 7.5 and 6.9, respectively. Immaculata High School, a Catholic secondary school, is also nearby at 2.4 km, with a rating of 5.8. Overall, the area boasts a variety of educational options in both English and French, ensuring quality education for children of all ages.

Key Statistics of the Neighbourhood

The area surrounding the property has a small population of 571 residents, with an average household size of 2.4 individuals. The community's average age is 37.2 years, reflecting a relatively young demographic. Households in the area enjoy a robust average income of $101,000, with only 10% classified as low-income. The real estate market shows an average property price of $640,000, indicating a moderately affluent neighborhood. Approximately 47.83% of the population is single, while 36.67% of households include children, highlighting a family-friendly environment. The area is also home to a diverse population, with 18.92% being immigrants. Renters make up 34.09% of the community, suggesting a mix of ownership and rental properties, although there are no condominiums available. Educational attainment is high, with 71.43% of residents holding college or university degrees. However, it is noteworthy that 38.1% of the population is not in the labor force, which may reflect various factors such as students, retirees, or individuals engaged in other pursuits. Overall, this neighborhood presents a blend of youthful energy, educational achievement, and a stable economic environment.