161 Hinchey Avenue

Nestled in the heart of the vibrant community of Mechanicsville, this splendid Multi-Family Home for sale in Ottawa at 161-163 Hinchey Avenue, Ottawa, presents an exceptional opportunity for investors or those seeking a spacious residence with multiple living arrangements. Currently functioning as a duplex, this property boasts a solid income-generating potential with a Gross Operating Income (GOI) of £36,000 and basic expenses amounting to £9,627. This financial overview is based solely on property tax, water, sewer, and insurance expenses, ensuring a clear understanding of the investment's viability.

The building, a charming two-storey multiplex, features a robust exterior of stone and other materials, exuding a classic appeal that is both inviting and enduring. With a total of ten rooms, including four generously sized bedrooms, this Multi-Family Home for sale in Ottawa offers ample space for comfortable living. The property is equipped with two kitchens, catering perfectly to the needs of a multi-family setup, allowing for independent living while sharing the same address.

Situated on a lot measuring 50 by 98 feet, the property does not include a pool or garage space, but it does provide convenient parking for two vehicles. The absence of a garage and driveway is compensated by the property's strategic location, which offers easy access to local amenities and public transport. Furthermore, there are no additional land parcels included with the sale, ensuring that the focus remains on the existing structure and its potential.

Heating is provided by a forced air system in the front portion of the house, while the second-level bathroom and laundry room benefit from baseboard heating. The back portion of the house, identified as 163 Hinchey, is also baseboard heated, ensuring a warm and cosy environment throughout the colder months. Central air conditioning is installed, providing comfort during the summer, while the property is connected to municipal water and sewer services, ensuring reliable utility access.

The property is currently unfurnished, allowing new owners to personalise the space according to their tastes and preferences. The absence of a family room and central vacuum system may be seen as limitations, but they also present an opportunity for creative reconfiguration of the space to suit individual needs. Internet connectivity is readily available, making it ideal for those who work from home or enjoy staying connected.

One of the standout features of this Multi-Family Home for sale in Ottawa is the previously approved site plan for a 15-unit development project. This ambitious plan includes the division of the existing structure into six two-bedroom units and nine one-bedroom units, highlighting the property's potential for significant expansion and increased rental income. Although no vehicle parking is proposed for this development, the provision of eight bicycle parking spaces in the rear yard promotes an eco-friendly lifestyle and encourages alternative modes of transport.

Access to the property is facilitated by a laneway at the rear of the lot, which runs between Lyndale and Burnside, providing additional convenience for residents and visitors alike. The current tenancy pictures depict the property before the existing arrangements, offering a glimpse into its potential once the new owners take charge.

In summary, 161-163 Hinchey Avenue, Ottawa, is a remarkable Multi-Family Home for sale in Ottawa that combines investment potential with comfortable living arrangements. With its strategic location, robust financials, and exciting development prospects, this property is not to be missed. Whether you are an investor looking to expand your portfolio or a family seeking a spacious home, this duplex offers a wealth of opportunities to explore. Don't hesitate to seize this chance to own a piece of Ottawa's thriving real estate market!

Mechanicsville, located in the vibrant city of Ottawa, is a charming neighbourhood that seamlessly blends historical character with modern convenience. Nestled just west of the downtown core, this area boasts a rich industrial heritage, reflected in its unique architecture and community spirit. Residents enjoy easy access to a variety of local amenities, including parks, shops, and eateries, all while being mere minutes from the bustling heart of the city. The picturesque Ottawa River, with its scenic pathways, offers opportunities for outdoor activities and relaxation. Mechanicsville is an inviting locale for those seeking a dynamic urban lifestyle with a close-knit feel, making it an ideal choice for prospective residents.

Schools in the Neighbourhood

This property is conveniently located near several reputable educational institutions, making it an excellent choice for families. Within a short distance, you will find Connaught Public School and Devonshire Community Public School, both offering elementary education in English and French, respectively, with strong ratings of 7.1 and 8.3. For students in grades 7 to 8, the nearby Summit Alternative School and Fisher Park Public School provide additional options, although they currently have lower ratings. As children progress to secondary education, Glebe Collegiate Institute, just 2.7 km away, offers a solid program for grades 9 to 12 with a commendable rating of 7.7. Additionally, St. George School, a Catholic institution, is located 1.4 km from the property, catering to elementary grades with a rating of 7.7. For those seeking Catholic secondary education, Notre Dame High School is 3.8 km away, offering grades 7 to 12. Overall, the area boasts a diverse range of educational opportunities in both public and Catholic systems, ensuring that families have access to quality education for their children.