218-220 Mcarthur Avenue

**Multi-Family Home for sale in Ottawa ** - a remarkable opportunity awaits at 218-220 Mcarthur Avenue, Ottawa. This property is not just a house; it represents a unique investment prospect in one of Ottawa's most rapidly developing urban areas, specifically within the 3404 - Vanier community. The building type is a multiplex, designed in a practical two-storey style, and is constructed with durable vinyl siding, ensuring both aesthetic appeal and longevity.

This **Multi-Family Home for sale in Ottawa** boasts a total of six rooms, including four kitchens, which is an exceptional feature for a property of this nature. The layout includes two well-proportioned bedrooms and four bathrooms, catering well to potential tenants or residents. While there is no den or family room, the ample kitchen space provides flexibility for various living arrangements. Central air conditioning ensures comfort throughout the seasons, while the forced air heating system guarantees warmth during the colder months.

The property at 218-220 Mcarthur Avenue, Ottawa, is currently unfurnished, allowing new owners the freedom to personalise the space to their liking. The absence of a fireplace and pool may be noted, but the property compensates with a practical crawl space basement and a driveway that accommodates up to five parking spaces. The lot measures an impressive 44 by 96 feet, providing ample outdoor space for potential development or landscaping.

Investors and builders will find this **Multi-Family Home for sale in Ottawa** particularly appealing, as it is shovel-ready for a nine-unit development. The site is strategically located just steps from the Vanier Parkway and McArthur Avenue, offering excellent transit connectivity and proximity to downtown Ottawa. This location is not only desirable for its accessibility but also for its strong long-term rental fundamentals, making it an attractive option for investment.

The property is offered at a competitive price of $1.6 million, inclusive of all necessary approvals and a demolition permit, along with fully approved architectural plans for the proposed nine-unit residential building. All utilities have been disconnected, allowing for a swift and efficient start to redevelopment. The estimated project economics upon completion suggest a gross monthly rental income of approximately £20,600, translating to an impressive gross annual rental income of around £247,200. The estimated stabilised net operating income (NOI) is projected to be approximately £181,764, with a capitalisation rate applied at 5.50%, leading to an estimated stabilised value of around £3.3 million.

Furthermore, a future value appraisal has been completed by an AACI designated appraiser, providing valuation conclusions based on the stabilised income assumptions, contingent upon construction adhering to the approved plans. Preliminary construction cost guidance indicates an approximate expenditure of £1.8 million, subject to final contractor pricing and scope confirmation.

It is important to note that to obtain the final release of the approved plans from the City, a known municipal payment of approximately £95,000 remains outstanding. This project is also eligible for CMHC MLI Select financing, which offers the potential for below-prime interest rates and amortisation periods of up to 50 years. This financing option significantly enhances leverage, cash flow, and long-term return potential, subject to CMHC and lender approval.

In summary, the **Multi-Family Home for sale in Ottawa** at 218-220 Mcarthur Avenue, Ottawa, presents a rare and lucrative opportunity for builders and investors alike. With its prime location, comprehensive development plans, and promising financial projections, this property is poised to become a significant asset in the thriving Ottawa real estate market. Don’t miss your chance to invest in this exceptional property!

Vanier, located in the vibrant city of Ottawa, is a diverse and dynamic neighbourhood that offers a unique blend of urban living and community spirit. Known for its rich cultural tapestry, Vanier features a mix of residential areas, local shops, and eateries that reflect its multicultural heritage. The community is well-connected to the rest of Ottawa, with convenient access to public transport and major roadways. Residents can enjoy a variety of parks and green spaces, making it an inviting place for families and individuals alike. With its lively atmosphere and a strong sense of belonging, Vanier is an appealing choice for those looking to immerse themselves in a distinctive and welcoming environment.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an excellent choice for families. The closest option is Assumption School, a Catholic elementary school just 0.4 km away, offering grades JK to 6 with a solid rating of 5. Additionally, Robert E. Wilson Public School, an English-language public elementary school for grades JK to 6, is only 0.8 km from the property and has a commendable rating of 4. For families with older children, Lisgar Collegiate Institute, a public secondary school for grades 9 to 12, is located 2.4 km away and boasts a high rating of 7.9. Other nearby schools include Queen Elizabeth Public School and Manor Park Public School, both offering elementary education with ratings of 3.9 and 6, respectively. Vincent Massey Public School, also within a reasonable distance, provides French-language instruction for grades JK to 8 and has a rating of 6.9. Immaculata High School, a Catholic secondary school, is 2.8 km away and serves grades 7 to 12 with a rating of 5.8. With a variety of educational options in close proximity, this location is ideal for nurturing young minds.