Dows Lake - Civic Hospital and Area - 4502 - West Centre Town
Dows Lake - Civic Hospital and Area - 4502 - West Centre Town
Listed For $1,599,800
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Incredible redevelopment opportunity in the heart of Little Italy. Operate at a 6.1% cap rate & over $3,400 monthly cash flow in the meantime. Steps to Preston St. R4-UD zoning provides multiple options for this 50x100’ land assembly. City of Ottawa frontage and lot area for R4-UD suggest potential as a 9+ unit low-rise apt building, up to 14.5 meters (4 storeys+basement). Highest & best use is estimated to be a 10-to-20-unit low-rise. Many new condo developments within sight. During planning phase, this property will provide extraordinary income. Why purchase land producing zero income while waiting to develop? Cash flow for these for months or years until the time is right to break ground, or speculate on land value and re-sell at a profit. 123 Pamilla has 4x 1-bed units totalling $6,505
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* Values are estimates only and not a guarantee of lending or affordability.