Lower Town - Sandy Hill - 4004 - Sandy Hill
Lower Town - Sandy Hill - 4004 - Sandy Hill
Sold For$825,000
Listed For $850,000
Sold Aug 2023
Great location! Close to Ottawa University, Rideau Centre and the Byward market! Based on Bill 23, there is no requirement to go through site-plan approval. Build 8 units at 3 bedrooms per unit on this lot. Draft from architect attached. With regard to Gross income $3k/unit for each 3-bed unit in Sandy Hill forecasted translates to a potential gross income of $288,000. Using a cap rate of 4.75% and using 30 percent expenses equals a potential final value of $4.24M.
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* Values are estimates only and not a guarantee of lending or affordability.